Nifty | Bank Nifty prediction for tomorrow 9 Feb 2021
Nifty closed above 15100 levels || Nifty & Bank Nifty futures prediction for tomorrow 9 Feb 2021
Banknifty & Nifty Prediction for tomorrow 9 Feb 2021: Indian stock markets made an optimistic start today amid positive Asian market cues. The markets continued to trade in high spirit today on account of broad-based buying in blue-chip counters. In the end, the benchmark indices extended their early gains and closed at a new high.
The market sentiments were upbeat with a private report stated that the Indian government is confident that it can obtain funds for its massive 2021-22 borrowing program at below six percent, as the central bank has given assurances that it will provide liquidity. Meanwhile, Finance Minister Nirmala Sitharaman said that the government will work with the Reserve Bank for the execution of the bank privatization plan announced in the budget.
On the global front, Asian markets were closed higher on hopes of a $1.9 trillion Coronavirus stimulus package that will be passed by U.S lawmakers soon. The European indices are trading higher as technology and banking stocks are trading positively today. The US market indices Dow futures and Nasdaq futures are trading higher at this moment at 4 pm IST.
Today’s market updates- Nifty, Sensex, and Bank Nifty
At the close, Nifty gained 191.55 points or 1.29% and close at 15115.80 levels while Sensex rose 617.14 points or 1.22% and closed at 51348.77 levels. The Bank Nifty trimmed its early gains but closed above its neutral line. The Bank Nifty on the spot price closed higher by 329.15 points or 0.93% and ended at 35983.65 levels.
The Nifty midcap and smallcap also gained today. The Nifty midcap 100 gained 339.05 points or 1.51% and closed at 22764.95 levels. The smallcap index jumped 116.30 level or 1.52% and ended at 7753.30 level.
The top five gainers in the Nifty50 index for the day were M&M, Hindalco, Tata Motors, Shree Cements, and JSW Steel. The top five losers in the Nifty50 index for the day were Britannia, HUL, Kotak Mahindra Bank, Divis Lab, and Bajaj Finance. The most active stocks for the day were Tata Motors, SBI, and M&M.
On the sectoral front, barring FMCG all other major sectors closed in the green today. Metals, Automobiles, Oil & Gas, IT & Software, and Infrastructures sectors closed as top gainers.
Nifty & Bank Nifty futures price today
The Nifty futures share price opened at 15068, it made a gap up opening of 137.35 points. It has touched an intraday high at 15167 and a day’s low at 15031
The Nifty futures share price has given a movement of 136 points. In the end, it gained 209.35 points or 1.40% and closed at 15140 levels.
The Bank Nifty futures share price opened at 36140 It made a positive opening of 474.05 points today. It has touched an intraday high at 36503.50 and a day’s low at 35860
During the day, the Bank Nifty futures share price has given a movement of 643.5 points. In the end, it gained 365.05 points or 1.02% and closed at 36031 levels.
Nifty and Bank Nifty prediction for tomorrow 9 Feb ( Feb Expiry)
Nifty prediction for tomorrow 9 Feb 2021
Primary Nifty Trend in futures: Positive
Range-Bound Trend of Nifty Futures: All up Moves Initiates Profit Booking (Sale) @ 15220 whereas All Down Moves Initiates Short Covering (Buy) @ 15080
If the Nifty futures share price Moves Above 15164 and sustain. Then you should Buy with 1st Target of 15194 during the day with a Stop Loss of 15080 FOR the Target of 15194-15222- 15248
If the Nifty futures share price Moves Below 15080 and sustain. Then you should Sell with the 1st Target of 15058 during the day with a Stop Loss of 15164. FOR the Target of 15058- 15018 -14980
Bank Nifty prediction for tomorrow 9 Feb 2021
Primary Trend of Bank Nifty Futures: Positive
Range-Bound Trend of Bank Nifty Future: All up Moves Initiates Profit Booking (Sale) @ 36600, whereas All Down Moves Initiates Short Covering (Buy) @ 35750
Suppose Bank Nifty futures share price Moves Above 36140 and sustain. Then you should Buy with the 1st Target of 36270 during the day with a Stop Loss of 35940. FOR the Target of 36270 – 36405- 36590
If the Bank Nifty futures share price Moves Below 35940 and sustained. Then you should Sell with the 1st Target of 35760 during the day with a Stop Loss of 36140. FOR the Target of 35760 – 35630- 35480
Conclusions:
Indian markets continued their upward journey today. Nifty and Sensex gained above 1 percent. Nifty closed above 15100 levels today for the first time is a positive sign for the market. The broader markets too participated in the rally today as both midcap and smallcap closed higher by 1.5 percent today. The strong global cues, hopes of the US stimulus package helped the domestic markets to trade higher.
Traders/investors can follow our Daily Morning market views and can follow our Nifty and Bank Nifty futures prediction for tomorrow 9 Feb 2021.
Also read, Stock recommendations- Top 3 Stock Picks for next week
Nifty | Bank Nifty futures prediction for the week (8-12 Feb)
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