Nifty & Bank Nifty future share price for 17th Feb
Nifty & Bank Nifty future share price for 17th Feb
Nifty & Bank Nifty future share price for 17th Feb: Indian stock market closed in red for the second consecutive days. It was opened in a strong note last Friday and later erased all morning gains. The weak global cues and domestic macro data has forced the traders to book profit on the front line stocks on Friday.
The Nifty future share price opened at 12198.90, it was up by 24.30 points on Friday morning from the previous close. It has touched an intraday high at 12260.40 and a day’s low at 12101.
During the day the Nifty future share price had given a movement of 159.4 points. In the end, it declined 45.5 points and closed at 12129.10.
The Bank Nifty future share price opened at 31280, it was up by 48.65 points on Friday morning from the previous day’s close. It has touched an intraday high at 31470.85 and a day’s low at 30774.50.
On an intraday basis, the Bank Nifty future share price had given a movement of 696.35 points. In the end, it was down by 332.05 points and closed at 30899.30
The Nifty future share price for 17th Feb
Primary in Nifty Futures: Mild up
Range-Bound Trend in Nifty Futures:
All up Moves Initiates Profit Booking (Sale) @ 12220 whereas All Down Moves Initiates Short Covering (Buy) @ 12080
If Nifty futures share price Moves Above 12165 and sustain. Then you should Buy with 1st Target of 12195 during the day with a Stop Loss of 12110 FOR the Target of 12195- 12226- 12272
If Nifty futures share price Moves Below 12110 and sustain. Then you should Sell with 1st Target of 12076 during the day with a Stop Loss of 12180. FOR the Target of 12076- 12038- 12005.
Bank Nifty future share price for 17th Feb
Primary Trend of Nifty Bank Futures: Mild up
Range-Bound Trend in Bank Nifty Futures:
All up Moves Initiates Profit Booking (Sale) @ 31350, whereas All Down Moves Initiates Short Covering (Buy) @ 30820
If Nifty Bank indices in futures Move Above 31050 and sustain. Then you should Buy with 1st Target of 31175 during the day with a Stop Loss of 30820. FOR the Target of 31175 – 31320- 31532
If Nifty Bank indices in futures Move Below 30820 and sustain. Then you should Sell with 1st Target of 30640 during the day with a Stop Loss of 31050. FOR the Target of 30640- 30490- 30350.
Conclusions:
Indian stock market was volatile last Friday, the Bank Nifty future fell more than 1% on the last day of the week whereas the Nifty future was down only 0.37%. The FIIs after buying for two days in the cash market sold on last Friday. The market is still looking positive and may bounce back on Monday if the global market supports.
You can follow our Bank Nifty future share price target mentioned above for the 17th Feb 2020 trading.
You can also read, 10 best stocks/shares to buy now for 2020
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