Nifty and Bank Nifty future share price 6th Jan 2020

 

Nifty & Bank Nifty future share price 6th Jan: Indian benchmark indices opened negative on last Friday. Later it extended its early loss due to the recent crisis in the middle east and sudden hike in crude oil prices. Please read yesterday’s market report here.

Friday the Nifty future share price opened at 12294.40. It was down by 44.90 points due to negative global cues. During the day the Nifty future share price touched an intraday high at 12304.40 and a day’s low at 12222.95.

The Nifty future has given a movement of 81.45 points last Friday. In the end, it declined 79.40 points or 0.64% and closed at 12259.90.

 The Bank Nifty future share price on Friday opened at 32445.50, it was down 133.65 points at opening. On an intraday basis, the Bank Nifty future share price touched hight at 32489.05 and low at 32060.20. 

During the day the Bank Nifty future share price has given a movement of 428.85 points. In the end, it fell 401.75 points or 1.23% and closed at 32177.40

 

Nifty Future share price  for 6th Jan 2020

Primary Trend of Nifty Futures share price:  Mild down to Sideways

Range-Bound Trend of Nifty Futures: 

All up Moves Initiates Profit Booking (Sale) @ 12300 whereas All Down Moves Initiates Short Covering (Buy) @ 12190

If Nifty futures share price Moves Above 12280 and sustain. Then you should Buy with 1st Target of 12302 during the day with a Stop Loss of 12238 FOR the Target of 12302- 12325- 12344

If Nifty futures share price Moves Below 12238 and sustain. Then you should Sell with 1st Target of 12210 during the day with a Stop Loss of 12280. FOR the Target of 12210- 12190- 12150

 

Bank Nifty Future share price  for 6th Jan 2020

Primary Trend of Bank Nifty Future: Mild down 

Range-Bound Trend of Bank Nifty Future: 

All up Moves Initiates Profit Booking (Sale) @ 32800, whereas All Down Moves Initiates Short  Covering (Buy) @ 31900

If Bank Nifty future share price Moves Above 32255  and sustain. Then you should Buy with 1st Target of 32320 during the day with a Stop Loss of  32110. FOR the Target of 32320 – 32405- 32530

If Bank Nifty future share price Moves Below 32110 and sustained. Then you should Sell with 1st Target of 32010 during the day with a Stop Loss of 32420. FOR the Target of 32010 – 31902- 31825

 

Conclusions: 

The profit booking on the negative news was seen on the last day of the week. The market is looking mild down to sideways in the short term due to the middle east crisis, hike in crude oil and rupee depreciation. 

It all again depends on how crude oil prices behave on Monday and recent geopolitical tension. Traders should closely follow the crude oil prices, rupee movement and global cues for Monday.

You can also follow our Nifty and Bank Nifty future share price target for 6th Jan for trading.

 

You can also read, PSU Bank Merger: 7 ways the merger will impact on you

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Editor

 

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