Nifty | Bank Nifty Prediction for Tomorrow, 8 Sept 2021
Nifty and Bank Nifty Prediction for Tomorrow, 8 Sept 2021: Indian stock markets made a slightly positive start on Tuesday amid mixed Asian market cues. Markets erased all gains after few minutes of trading and turned negative and later markets traded volatile throughout the day due to selling in Realty, IT, Banking, and Power stocks. In the end, the benchmark indices closed marginally lower.
Traders were cautious with the private report projected a real gross value added (GVA) growth of 7 to 8 percent year-on-year in the second quarter of the current fiscal year versus 20.1 percent growth in 1Q FY22. It said estimates suggest some moderation in the economic activity index (EAI)-GVA growth in July, largely on account of weaker fiscal spending.
Today’s market updates- Sensex, Nifty, and Bank Nifty on spot levels
At the close, Nifty was down by 15.70 points or 0.09 percent and closed at 17362.10 while Sensex declined 17.43 points or 0.03 percent and finished at 58279.48 levels. The Bank Nifty on spot levels fell 123.55 points or 0.34 percent and ended at 36468.80 levels.
The broader markets also closed marginally lower in line with their larger peers. The Nifty midcap index was down by 73.35 points or 0.34 percent and closed at 29105 levels. While the small-cap index declined by 9.75 points or 0.09 percent and finished at 10550.50 levels.
The top five gainers in the Nifty50 index were Bharti Airtel, HDFC, Grasim, ITC, and IndusInd Bank. The top five losers in the Nifty50 index are Sun Pharma, BPCL, Hindalco, Axis Bank, and Wipro. The most active stocks in terms of value were Reliance, Bharti Airtel, and HDFC. The most active stocks in terms of volume were ITC, Bharti Airtel, and SBI.
On a sectoral front, Telecom, Consumer Durables, Finance, FMCG, and Oil & Gas sectors closed higher today. The sectors that closed in the red were IT & Software, Realty, Power, Healthcare, and Banking.
Nifty and Nifty Bank futures price movement for 7 Sept (Sept Expiry)
The Nifty futures price opened at 17372.10 and made a negative opening of 32.55 points. It has touched an intraday high at 17449.95 and a day’s low at 17300
The Nifty futures price has given a movement of 149.95 points today. In the end, it was down by 35.40 points or 0.20 percent and ended at 17369.25 levels.
The Bank Nifty futures opened at 36700.05. It made a negative opening of 57.1 points today. It has touched an intraday high at 36838.50 and a day’s low at 36251.20
During the day, the Bank Nifty in futures has given a movement of 587.3 points. In the end, it closed lower by 184.25 points or 0.50 points and closed at 36572.90 levels
Nifty & Bank Nifty Prediction for Tomorrow, 8 Sept 2021 (Sept Expiry)
Nifty Futures Prediction for Tomorrow, 8 Sept 2021
Primary Nifty Trend in futures: Positive
Range-Bound Trend of Nifty Futures: All up Moves Initiates Profit Booking (Sale) @ 17410 whereas All Down Moves Initiates Short Covering (Buy) @ 17260
If the Nifty futures share price Moves Above 17385 and sustain. Then you should Buy with 1st Target of 17412 during the day with a Stop Loss of 17329 FOR the Target of 17412-17446- 17474
If the Nifty futures share price Moves Below 17329 and is sustained. Then you should Sell with the 1st Target of 17297 during the day with a Stop Loss of 17385. FOR the Target of 17297- 17262-17227
Bank Nifty Futures Prediction for Tomorrow, 8 Sept 2021
Primary Trend of Bank Nifty Futures: Mild Negative
Range-Bound Trend of Bank Nifty Future: All up Moves Initiates Profit Booking (Sale) @ 37100, whereas All Down Moves Initiates Short Covering (Buy) @ 36650
Suppose the Bank Nifty futures Moves Above 36710 and sustain, then you should Buy with the 1st Target of 36860 during the day with a Stop Loss of 36415. FOR the Target of 36860 – 36985 – 37050
If the Bank Nifty futures Moves Below 36415 and sustain, then you should Sell with the 1st Target of 36270 during the day with a Stop Loss of 36710. FOR the Target of 36270 – 36140 – 35950
Global markets today
On the global front, Asian markets mostly closed higher as fresh trade data from China for the month of August came better than expected. European markets are trading marginally lower on Tuesday as investors reviewed the latest reading on German investor sentiment, with all eyes on this week’s European Central Bank meeting. The US future market indexes, Nasdaq, and Dow futures are trading flat, indicates a flat opening for the US markets after a long weakened.
Conclusions
Indian stock markets closed almost flat amid volatility on Tuesday. Indian markets took a pause after a recent rally. Markets closed flat in absence of any major event, global cues would continue to dictate the trend.
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Best Stocks to Buy in India for Short Term in Sept 2021
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