Nifty, Bank Nifty share price target 22nd Oct 2019
Nifty, Bank Nifty share price target 22nd Oct 2019
Indian markets opened in negative last Friday but it closed in the positive zone. Markets gained six consecutive trading sessions in a row. Last Friday Nifty futures gained 71.35 points.
It has opened at 11569.20 and closed at 11672 in the end. It has touched higher at 11695.65 and low at 11551.05, during the day it has given a movement of 144.60 points. Our analysis of the Nifty share price target for 22nd Oct 2019 is given below.
The NSE Banking index Bank Nifty future has gained only 60.35 points during the day. It has opened at 29029.60 and closed at 29140 in the end. During the day it has given a movement of 396.90 points and touched a high of 29299.95 and low at 28903.05.
Technical analysis of nifty share price target
Primary Trend Nifty Futures: Up
Range-Bound Trend of Nifty Futures: All up Moves Initiates Profit Booking (Sale) @ 11750 whereas All Down Moves Initiates Short Covering (Buy) @ 11580
If Nifty Futures Moves Above 11690 and sustain. Then you should Buy with 1st Target of 11725 during the day with a Stop Loss of 11638 FOR the Target of 11725- 11752- 11780
If Nifty Futures Moves Below 11638 and sustained. Then you should Sell with 1st Target of 11615 during the day with a Stop Loss of 11690 FOR the Target of 11615- 11585- 11550.
Bank Nifty share price target for 22nd Oct 2019
Primary Trend of Bank Nifty Futures: Up
Range-Bound Trend of Bank Nifty Future: All up Moves Initiates Profit Booking (Sale) @ 29400, whereas All Down Moves Initiates Short Covering (Buy) @ 28930
If Bank Nifty Futures Moves Above 29220 and sustained. Then you should Buy with 1st Target of 29320 during the day with a Stop Loss of 29078 FOR the Target of 29320 – 29410 – 29512
If Bank Nifty Futures Moves Below 29078 and sustained. Then you should Sell with 1st Target of 29020 during the day with a Stop Loss of 29220 FOR the Target of 29020- 28930- 28840
Conclusions:
Indian market will be a holiday on 21st Oct Monday due to Maharashtra Assembly Election. Markets will have only four trading sessions next week ahead of Diwali Muhurat Trading. Markets look positive, our views on Nifty and Bank Nifty share price target for 22nd Oct 2019 are given above. Traders should follow closely the global cues, Q2 earnings, and trade with stop loss.
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