The Trade Mantra of Nifty and Banknifty stock
Nifty and Banknifty future stock end in red today. The Nifty future opened at 11980.20 made a high of 11996.75 and intraday low of 11901. The Nifty future has given a movement of 95.75 points during the day. It fell 21.65 points and closed at 11958.05 today.
The Banknifty stock future opened at 30420.05 in the morning and made a high of 30519.90 and day low of 30155.10. It was volatile in a short rage today and made a movement of 364.80 points during the day. In the end, Banknifty fell 109.55 points and closed at 30286.50.
Trade mantra of Nifty and Banknifty future stock for tomorrow
The nifty future analysis for 6th Nov 2019
Primary Trend Nifty Futures: Mild up & sideways
Range-Bound Trend of Nifty Futures: All up Moves Initiates Profit Booking (Sale) @ 12000 whereas All Down Moves Initiates Short Covering (Buy) @ 11900
If Nifty share price in future Moves Above 11982 and sustain. Then you should Buy with 1st Target of 12008 during the day with a Stop Loss of 11925 FOR the Target of 12008- 12028- 12048
If Nifty shares price in future Moves Below 11925 and sustain. Then you should Sell with 1st Target of 11905 during the day with a Stop Loss of 11982 FOR the Target of 11905- 11882- 11860
Banknifty future stock analysis for 6th Nov 2019
Primary Trend of Bank Nifty Futures: Mild up to sideways
Range-Bound Trend of Bank Nifty Future: All up Moves Initiates Profit Booking (Sale) @ 30500, whereas All Down Moves Initiates Short Covering (Buy) @ 30000
If Banknifty stock price in future Moves Above 30320 and sustain. Then you should Buy with 1st Target of 30380 during the day with a Stop Loss of 30218 FOR the Target of 30380 – 30488 – 30565
If Banknifty stock price in future Moves Below 30218 and sustained. Then you should Sell with 1st Target of 30120 during the day with a Stop Loss of 30320 FOR the Target of 30120- 30040- 29960
Conclusions:
The Indian market looks positive but it may remain sideways till the next trigger. Investors can continue their long position with stop loss. Traders should follow SGX Nifty in the morning to know the market opening direction.
Traders can follow our Nifty and Banknifty futures stock analysis for 6th Nov19 with strict stop loss.
You can also read, Indian stock market prediction for November 2019 Series
Stock Market News Today: Nifty to touch new high
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