Nifty and Bank Nifty futures prediction for 7th Aug

 

Nifty & Bank Nifty Futures Predictions for 7th Aug: Indian stock market closed in the positive note after a volatile trading session. The Bank Nifty reacted positively after the announcement of the RBI policy outcome. Profit booking was seen at higher levels in Nifty and Bank Nifty in the last hour. You can read detailed market report here

 

Nifty and Bank Nifty futures today

 

The Nifty futures opened at 11140.65, it made a positive opening of 22.65 points today. It has touched an intraday high at 11277.25 and a day’s low at 11120.10

The Nifty futures has given a movement of 157.15 points. In the end, it gained by 92.35 points or 0.83% and closed at 11210.35 levels

The Bank Nifty futures opened at 21685 it was made a positive opening of 126 points today. It has touched an intraday high at 21969 and a day’s low at 21370

During the day the Bank Nifty futures has given a movement of 599 points. In the end, it added by 71 points or 0.51% and closed at 21670 levels.

 

Nifty & Bank Nifty futures prediction  for 7th Aug (Aug Expiry)

 

 

Nifty futures prediction for 7th Aug 2020

Primary Nifty Trend in futures: Mild Positive

Range-Bound Trend of Nifty Futures: All up Moves Initiates Profit Booking (Sale) @ 11310 whereas All Down Moves Initiates Short Covering (Buy) @ 11150

If Nifty futures Moves Above 11250 and sustain. Then you should Buy with 1st Target of 11280 during the day with a Stop Loss of 11178. FOR the Target of 11280- 11312- 11348

If Nifty futures Moves Below 11178 and sustain. Then you should Sell with 1st Target of 11146 during the day with a Stop Loss of 11250. FOR the Target of 11146- 11126- 11097

 

 

Bank Nifty futures prediction in futures, 7th Aug  2020

Primary Trend of Bank Nifty Futures: Mild Positive and Volatile

Range-Bound Trend of Bank Nifty Future: All up Moves Initiates Profit Booking (Sale) @ 21900, whereas All Down Moves Initiates Short  Covering (Buy) @ 21200

If the Bank Nifty futures  Moves Above 21770 and sustain. Then you should Buy with 1st Target of 21930 during the day with a Stop Loss of  21520. FOR the Target of 21930 – 22120- 22270

If the Bank Nifty futures Moves Below 21520 and sustained. Then you should Sell with 1st Target of 21370 during the day with a Stop Loss of 21770. FOR the Target of 21370 – 21220- 21080

 

Conclusions:

Indian market ended a volatile trading session and later closed in a positive note today. Today’s market volatility was due to the RBI policy outcome. In the near term view, Nifty continues to be positive and would touch 11350 levels in the coming days. 

Tomorrow, the market will move as per global cues. On the global front, The US and Chinese officials are expected to meet this weekend to review the phase 1 trade deal. Traders should keep a close eye on this news.

You may be interested to check out the latest charting platform for your strategy here. Traders can also follow our Daily Stock/Share Market live and NSE Nifty and Bank nifty share price target in futures for 7th Aug

 

You can also read, Best Stock Market Books to Make Money

7 key factors that will influence the market next week

 

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Editor’s Desk

 

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