Nifty, Bank Nifty futures target for 15th Oct19
Nifty, Bank Nifty futures target for 15th Oct19: Indian market opened in the green today. After a volatile trading session, Nifty futures gained 16.80 points and closed at 11328.50. Bank Nifty futures also gained 62.15 points and closed at 28200.75.
Nifty futures made an intraday movement of 140.80 points. It has touched an intraday high of 11433.95 and low of 11293.15. Whereas Bank Nifty futures has made an intraday movement of 707.15 points. It has touched an intraday high of 28,790 and low of 28082.85.
Nifty & Bank Nifty Futures target for 15th Oct19
Primary Trend Nifty Futures: Mild up & Sideways
Range-Bound Trend of Nifty Futures: All up Moves Initiates Profit Booking (Sale) @ 11450 whereas All Down Moves Initiates Short Covering (Buy) @ 11280
If Nifty Futures Moves Above 11355 and sustain. Then you should Buy with 1st Target of 11380 during the day with a Stop Loss of 11305 FOR the Target of 11380- 11408- 11445
If Nifty Futures Moves Below 11305 and sustained. Then you should Sell with 1st Target of 11238 during the day with a Stop Loss of 11355 FOR the Target of 11274- 11245- 11220.
Primary Trend of Bank Nifty Futures: Mild up & Sideways
Range-Bound Trend of Bank Nifty Future: All up Moves Initiates Profit Booking (Sale) @ 28350, whereas All Down Moves Initiates Short Covering (Buy) @ 27450
If Bank Nifty Futures Moves Above 28290 and sustained. Then you should Buy with 1st Target of 28390 during the day with a Stop Loss of 28125 FOR the Target of 28390 – 28566 – 28665
If Bank Nifty Futures Moves Below 28125 and sustained. Then you should Sell with 1st Target of 28030 during the day with a Stop Loss of 28290 FOR the Target of 28030- 27855- 27755
Conclusions:
Today WIP announced at 12 pm the September WPI was 0.335 versus 1.08% MoM. The CPI number came at 5.30 and it has increased to 3.99% in September versus 3.21% MoM. The CPI has increased because of food inflation. Tomorrow Indian market will open as per global cues and also react to increased CPI number. Traders can refer above Nifty and Bank Nifty futures target for 15th Oct19 and should trade with strict stop loss.
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