Nifty and Bank Nifty resistance and support levels for 13th Feb

 

Nifty and Bank Nifty resistance and support levels: Indin stock market opened in the green and extended its yesterday’s gain today. The Asian markets supported the domestic market to trade higher today. Asian market sentiments got a boost after the report of a decline in confirmed coronavirus cases in China. It is also reported than an epidemic may be over by April.

The Nifty future share price opened at 12169.75, it was up by 42.90 points from the previous close. It has touched an intraday high at 12247.70 and a day’s low at 12157.70.

During the day the Nifty future share price has given a movement of 90 points. In the end, it gained 100 points and closed at 12226.85

The Bank Nifty future share price opened at 31516.30, it was up by 133.20 points from yesterday’s close. It has touched an intraday high at 31619.80 and a day’s low at 31458.40.

On an intraday basis, the Bank Nifty share price has given a movement of 161.4 points. In the end, it gained 179.7 points and closed at 31563

 

Nifty and Bank Nifty resistance and support levels for 13th Feb

Primary in Nifty Futures: Mild up to Sideways

Range-Bound Trend in Futures: Nifty resistance and support levels for 13th Feb

All up Moves Initiates Profit Booking (Sale) @ 12340 whereas All Down Moves Initiates Short Covering (Buy) @ 12150

If Nifty futures share price Moves Above 12246 and sustain. Then you should Buy with 1st Target of 12282 during the day with a Stop Loss of 12190 FOR the Target of 12282- 12302- 12346

If Nifty futures share price Moves Below 12190 and sustain. Then you should Sell with 1st Target of 12172 during the day with a Stop Loss of 12246. FOR the Target of 12172- 12148- 12122

 

Primary Trend of Nifty Bank Futures: Mild up to sideways

Range-Bound Trend in Futures: Bank Nifty resistance and support levels for 13th Feb

All up Moves Initiates Profit Booking (Sale) @ 31680, whereas All Down Moves Initiates Short  Covering (Buy) @ 31450

If Nifty Bank indices in futures Move Above 31595  and sustain. Then you should Buy with 1st Target of 31635 during the day with a Stop Loss of  31508. FOR the Target of 31635 – 31675- 31720

If Nifty Bank indices in futures Move Below 31508 and sustain. Then you should Sell with 1st Target of 31475 during the day with a Stop Loss of 31595. FOR the Target of 31475- 31420- 31380.

 

Conclusions: 

Indian stock market gained on the second consecutive day. Tomorrow market will react to IIP and CPI data which will be announced at 5.30 pm today. Indian market is expecting better IIP and CPI numbers this time. 

Investors should track the news related to the virus and global cues closely. You can also follow our Nifty and Bank Nifty resistance and support levels in futures mentioned above for the 13th Feb 2020. 

 

You can also read, 10 best stocks/shares to buy now for 2020

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