Nifty & Bank Nifty Futures Prediction for Tomorrow, 10 Aug
Nifty and Bank Nifty Futures Prediction For Tomorrow, 10 Aug 2021: Indian stock markets opened positive on Monday and managed to trade above their neutral levels in the morning deals. The markets turned negative in the second half due to selling pressure in metals, oil & gas, and telecom stocks. In the last hour, markets erased intraday losses and closed marginally higher.
The market sentiments were positive as traders took some support as FPI have made a comeback to Indian equity markets in the first week of August. The FPI investment in the Indian markets came after selling four months in a row.
Auto stocks were in focus as FADA’s report states that automobile registrations across the country rose by 34 percent last month as compared to July last year with passenger vehicles showing a 63 percent hike. July continued to see a robust recovery in auto retails as demand across all categories remained high after states eased Covid-led lockdown.
Today’s market updates: Sensex, Nifty, and Bank Nifty spot price
Finally, Nifty gained 20.05 points or 0.13 percent and closed at 16258.25 percent while Sensex was up by 125.13 points or 0.24 percent and finished at 54402.85 levels. The Bank Nifty spot price climbed 219.70 points or 0.62 percent and ended at 36028.95 levels.
The broader markets continue to underperform the benchmark indices since last week. The Nifty midcap index was down by 203.20 points or 0.73 percent and closed at 27742.50 levels. The nifty smallcap index declined by 94.65 points or 0.91 percent and closed at 10335 levels.
The top five gainers were M&M, TechM, Axis Bank, Bajaj Finserve, and IndusInd Bank. The top five losers in the Nifty 50 index were Tata Consumer, Coal India, Adani Ports, Bharti Airtel, SBI Life. The most active stocks in terms of value were Tata Steel, SBI, and Tech Mahindra. The most active stocks in terms of volume were SBI, ITC, and Tata Motors.
On a sectoral front, the Banking, FMCG, Healthcare, and IT & Software sectors were closed marginally higher today. The sectors that closed in the red were Metals, Telecom, Oil & Gas, Automobiles, and Realty.
Nifty and Nifty Bank futures price movement for 9 August ( Aug Expiry)
The Nifty futures price opened at 16274.65 and made a positive opening of 22.95 points. It has touched an intraday high at 16325 and a day’s low at 16181.80
The Nifty futures price has given a movement of 143.2 points today. In the end, it gained 12.3 points or 0.04 percent and ended at 16264 levels.
The Bank Nifty futures opened at 35900. It made a negative opening of 41.05 points today. It has touched an intraday high at 36278 and a day’s low at 35804.05
During the day, the Bank Nifty in futures has given a movement of 473.95 points. In the end, it closed higher by 193.35 points or 0.54 percent and closed at 36135 levels
Nifty & Bank Nifty Prediction for Tomorrow 10 Aug 2021, (Aug Expiry)
Nifty Futures Prediction for Tomorrow, 10 Aug 2021
Primary Nifty Trend in futures: Positive
Range-Bound Trend of Nifty Futures: All up Moves Initiates Profit Booking (Sale) @ 16330 whereas All Down Moves Initiates Short Covering (Buy) @ 16180
If the Nifty futures share price Moves Above 16295 and sustain. Then you should Buy with 1st Target of 16332 during the day with a Stop Loss of 16220 FOR the Target of 16332-16356- 16380
If the Nifty futures share price Moves Below 16220 and is sustained. Then you should Sell with the 1st Target of 16180 during the day with a Stop Loss of 16295. FOR the Target of 16180- 16152-16123
Bank Nifty Futures Prediction for Tomorrow, 10 Aug 2021
Primary Trend of Bank Nifty Futures: Positive
Range-Bound Trend of Bank Nifty Future: All up Moves Initiates Profit Booking (Sale) @ 36300, whereas All Down Moves Initiates Short Covering (Buy) @ 35850
Suppose the Bank Nifty futures Moves Above 36225 and sustain, then you should Buy with the 1st Target of 36300 during the day with a Stop Loss of 36020. FOR the Target of 36300 – 36430 – 36535
If the Bank Nifty futures Moves Below 36020 and sustain, then you should Sell with the 1st Target of 35940 during the day with a Stop Loss of 36225. FOR the Target of 35940 – 35850 – 35660
Global markets today
On the global front, Asian markets indexes closed mixed as traders were concern about the surge in coronavirus cases and falling crude oil prices. Japan’s Nikkei was closed today due to a public holiday. The Chinese domestic export growth slowed down in July due to a fresh outbreak of Covid cases, the markets rebound in the end due to the rise on hopes of policy easing.
European markets are trading lower due to the rise in Covid cases globally and disappointments of Chinese economic data released today. The US futures indexes are trading mixed at this moment, Dow future is trading lower whereas Nasdaq future is trading marginally higher.
Conclusions
The benchmark indices closed in the green amid volatility with the support of Banking and IT stocks. Today Nifty has taken support near 16200 and traded in a range of 60-70 points most of the day. The broader markets underperformed the benchmark indices, as midcap and smallcap closed lower by 0.7-09 percent. Overall market may remain range-bound for a couple of days.
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