Nifty & Bank Nifty future share price 7th Jan

 

Nifty and Bank Nifty future share price 7th Jan: Indian equity market opened gap down today due to the tension in the middle east and hike in crude oil prices. The market opened in the gap down and later extended its morning losses.

The Nifty future share price opened at 12201.90 in the morning, it was down by 54.55 points. It has touched an intraday high at 12217.85 and a day’s low at 12025. 

During the day it has given a movement of 192.85 points. In the end, the Nifty future share price declined 216.45 and closed at 12040

The Bank Nifty future share price opened at 32000 in the morning, it was down by 161.20. It has touched an intraday high at 32023.85 and a day’s low at 31286. 

During the day the Bank Nifty future share price has given a movement of 737.85 points. In the end, it has declined 811.20 points and closed for the day at 31350. 

 

Nifty & Bank Nifty Future share price  for 7th Jan 2020

Primary Trend of Nifty Futures share price:  Down to Sideways

Range-Bound Trend of Nifty Futures: 

All up Moves Initiates Profit Booking (Sale) @ 12130 whereas All Down Moves Initiates Short Covering (Buy) @ 11900

If Nifty futures share price Moves Above 12098 and sustain. Then you should Buy with 1st Target of 12128 during the day with a Stop Loss of 12027 FOR the Target of 12128- 12155- 12295

If Nifty futures share price Moves Below 12027 and sustain. Then you should Sell with 1st Target of 11980 during the day with a Stop Loss of 12098. FOR the Target of 11980- 11952- 11905

 

Bank Nifty Future share price  for 7th Jan 2020

Primary Trend of Bank Nifty Future: Down 

Range-Bound Trend of Bank Nifty Future: 

All up Moves Initiates Profit Booking (Sale) @ 31680, whereas All Down Moves Initiates Short  Covering (Buy) @ 30960

If Bank Nifty future share price Moves Above 31550  and sustain. Then you should Buy with 1st Target of 31676 during the day with a Stop Loss of  31320. FOR the Target of 31676 – 31810- 31030

If Bank Nifty future share price Moves Below 31320 and sustained. Then you should Sell with 1st Target of 31092 during the day with a Stop Loss of 31550. FOR the Target of 31092 – 30960- 30825

 

Conclusions: 

As expected the Indian market opened a gap down today morning and extended its early losses. The middle east crisis is the reason behind today’s fall in the market. Indian market reacted heavily in the middle east crisis is due to the high crude oil prices. India is one of the biggest importer of crude, the hike in crude price will depreciate Indian rupee and increase inflation. 

The Brent crude oil is trading $69.20 currently and 1.2% higher. It may take a day or two to cool off the issue. The traders should closely follow the crude oil prices, rupee movement, and global market tomorrow morning.

You can also follow our Nifty and Bank Nifty future share price target for 7th Jan for trading.

 

You can also read, Nifty Sensex weekly updates: Key factors for next week

                               Your Stock Broker will never say these Hidden Charges.

PSU Bank Merger: 7 ways the merger will impact on you

 

Please share your views about the post.

If you like the post please share with your friends and others

Happy Investing!

Editor

 

Disclaimer-Nifty50Stocks.com has taken due care and caution to compile the data for its Website. The views and investment tips expressed by investment experts on Nifty50Stocks.com are their own and not that of the website or its management. Nifty50Stocks.com is not SEBI registered Advisors and advises its users to check with certified and SEBI registered experts before taking any investment decision. However, Nifty50Stocks.com does not guarantee the accuracy, adequacy or completeness of any information and is not responsible for any errors or omissions or for the results obtained from the use of such information. Nifty50Stocks.com especially states that it has no financial liability whatsoever to any user on account of the use of information provided on its website.