Nifty & Bank Nifty futures share price for 12th March
Nifty & Bank Nifty futures share price for 12th March
Nifty & Bank Nifty futures share price 12th March: The Indian stock market was highly volatile during the day. It was a negative start in the morning after getting mixed cues from the Asian Markets. The Bank Of England has cuts interest rates by 50 bps to 0.25% and launces new term funding with additional incentives for SMEs. The stimulus package from the Central Bank of England has improved market sentiments.
The Nifty futures share price opened at 10382.85, it was opened gap down by 79.5 points from the previous day’s close. It has touched an intraday high at 10512.95 and a day’s low at 10335.35.
On an intraday basis, the Nifty futures share price has given a movement of 177.6 points. In the end, it was down by only 7.35 points and closed at 10455.
The Bank Nifty futures share price opened at 26349.95, it was opened down by 175.8 points from the previous close. On an intraday basis, it has touched high at 26818 and a day’s low at 26215.45.
During the day the bank nifty futures share price has given a movement of 602.55 points. In the end, it was declined by 66.1 and closed at 26459.65.
Nifty futures share price for 12th March
Primary Trend in Nifty Futures: down
Range-Bound Trend in Nifty Futures:
All up Moves Initiates Profit Booking (Sale) @ 10550 whereas All Down Moves Initiates Short Covering (Buy) @ 10350
If Nifty share price in NSE futures Moves Above 10485 and sustain. Then you should Buy with 1st Target of 10525 during the day with a Stop Loss of 10395 FOR the Target of 10525- 10560- 10615
If Nifty share price in NSE futures Moves Below 10395 and sustain. Then you should Sell with 1st Target of 10355 during the day with a Stop Loss of 10485 FOR the Target of 10355- 10306- 10260
Bank Nifty futures share price for 12th March
Primary Trend of Nifty Bank Futures: down
Range-Bound Trend in Bank Nifty Futures:
All up Moves Initiates Profit Booking (Sale) @ 26950, whereas All Down Moves Initiates Short Covering (Buy) @ 26200.
If Bank Nifty share price in NSE futures Move Above 26500 and sustain. Then you should Buy with the 1st Target of 26640 during the day with a Stop Loss of 26340. FOR the Target of 26640 – 26780- 26940
If Bank Nifty share price in NSE futures Move Below 26340 and sustain. Then you should Sell with 1st Target of 26180 during the day with a Stop Loss of 26500. FOR the Target of 26180- 26040- 25900.
Conclusions:
Indian stock markets closed flat to positive on spot levels whereas markets closed marginally lower in futures. The market was volatile during the day, PSU Banks were major losers for the day while FMCG was the gainers. Other major sectors including midcaps and small caps indices closed in red today.
Traders should trade cautiously with strict stop loss and track the Asian markets for tomorrow’s trading. Traders can also follow our Nifty & Bank Nifty futures share price for 12th March for day trading.
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