Nifty & Nifty Bank indices in futures for 10th Feb

February 8, 2020 admin

Nifty & Nifty Bank indices for 10th Feb: Friday the market opened marginally lower as indicated by the global cues. A profit-booking in the heavyweight stocks seen after four consecutive gains in the market. The market moved in a tight range and in the end, it closed in the red.

The Nifty indices in futures opened at 12132.35 on last Friday, it was down by just 4 points from the previous close. It has touched an intraday high at 12132.40 and day’s low at 12068.

During the day the Nifty indices in futures have given a movement of 64.40 points. In the end, it declined 53.55 points and closed at 12082.80.

The Nifty Bank indices in futures opened at 31339.90 on last Friday, it was up just 7.05 points from Thursday’s close. It has touched an intraday high at 31363.85 and a day’s low at 31110.05.

On an intraday basis, the Nifty Bank indices in Futures have given a movement of 253.8 points. In the end, it was down 104.85 points and closed at 31228.

Nifty indices in futures for 10th Feb

Primary Trend in Nifty Futures: Mild Up

Range-Bound in Nifty Futures:

All up Moves Initiates Profit Booking (Sale) @ 12190 whereas All Down Moves Initiates Short Covering (Buy) @ 12040

If Nifty futures share price Moves Above 12122 and sustain. Then you should Buy with 1st Target of 12160 during the day with a Stop Loss of 12076 FOR the Target of 12160- 12191- 12218

If Nifty futures share price Moves Below 12076 and sustain. Then you should Sell with 1st Target of 12055 during the day with a Stop Loss of 12122. FOR the Target of 12055- 12038- 12005

Nifty Bank indices in futures for 10th Feb 2020

Primary Trend of Nifty Bank indices in Futures: Mild Up

Range-Bound Trend of Nifty Bank indices in Futures:

All up Moves Initiates Profit Booking (Sale) @ 31500, whereas All Down Moves Initiates Short Covering (Buy) @ 31040

If Nifty Bank indices in futures Move Above 31315 and sustain. Then you should Buy with 1st Target of 31360 during the day with a Stop Loss of 31170. FOR the Target of 31360 – 31425- 31490

If Nifty Bank indices in futures Move Below 31170 and sustain. Then you should Sell with 1st Target of 31109 during the day with a Stop Loss of 31315. FOR the Target of 31109- 31040- 30980.

Conclusions:

Indian markets closed marginally lower on last Friday. It moved sideways on the last day of the week. The market is looking positive, Monday it will open as per the Asian Market cues in the mornings.

Traders can track the global cues in the morning on Monday and follow our Nifty and Nifty Bank indices in futures share price mentioned above for the 10th Feb 2020.

You can also read, 10 best stocks/shares to buy now for 2020

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