Nifty & Bank Nifty futures share price target for 6th Dec

 

Nifty & Bank Nifty future 6th Dec: Indian market opened in the green today on the or rate cut but erased all gains after the news of the status quo. The market was volatile post RBI meeting and later closed in the red.

The Nifty future opened flat today at 12082.40 just 7.40 points down. It has touched an intraday high of 12116 and day’s low at 12026.85. During the day it has given a movement of 89.15 points.

At close, Nifty future share price fell 46.05 points and closed at 12043.75

The Bank Nifty future share price opened today at 32110, it was up 29.10 points. It has touched an intraday high of 32179.95 and a day’s low at 31705. Bank Nifty future has given an intraday movement of 475.95 points.

The Bank Nifty future share price fell 362.90 points and closed at 31718, near the day’s low.

 

The Nifty future share price target for  6th Dec

Primary Trend Nifty Future: Sideways

Range-Bound Trend of Nifty Future: All up Moves Initiates Profit Booking (Sale) @ 12000 whereas All Down Moves Initiates Short Covering (Buy) @ 11980 

If Nifty future share price Moves Above 12075 and sustain. Then you should Buy with 1st Target of 12098 during the day with a Stop Loss of 12027 FOR the Target of 12098-12125- 12148

If Nifty future share price Moves Below 12027  and sustain. Then you should Sell with 1st Target of 12002 during the day with a Stop Loss of 12102. FOR the Target of 12002- 11982- 11955

 

Bank Nifty future share price target for 6th Dec

Primary Trend of Bank Nifty Future: Mild down to Sideways

Range-Bound Trend of Bank Nifty Future: All up Moves Initiates Profit Booking (Sale) @ 32000, whereas All Down Moves Initiates Short  Covering (Buy) @ 31600

If Bank Nifty future share price Moves Above 31878  and sustain. Then you should Buy with 1st Target of 31938 during the day with a Stop Loss of  31680 FOR the Target of 31938 – 32030- 32170

If Bank Nifty future share price Moves Below 31680 and sustained. Then you should Sell with 1st Target of 31620 during the day with a Stop Loss of 31878 FOR the Target of 31620 – 31560- 31477

 

Conclusions: 

Today, the Indian market has become volatile post RBI meeting and later closed in red near day’s low. The market may trade mild negative to sideways tomorrow. Traders should trade with strict stop loss tomorrow.

Traders can also follow our Nifty and Bank Nifty futures share price target for 6th Dec and December’s market views and trends here.

 

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