Nifty | Bank Nifty Prediction for Tomorrow, 10 Dec 2021
Nifty and Bank Nifty Prediction for Tomorrow, 10 Dec 2021: Indian stock markets opened higher on Thursday as indicated by the SGX Nifty in the morning. The benchmark indices turned negative in the early morning deal and later erased all intraday losses and closed in the positive zone. Buying in frontline stocks witnessed today such as Asian Paints, Larsen & Toubro, and Reliance Industries while selling in Titan, HDFC Bank, and Kotak Bank kept the gains in the markets in check.
Trader’s took some support with Pradeep Multani, President of PHD Chamber of Commerce and Industry’s statement that the accommodative policy stance at this juncture would not only pave the way for double-digit GDP growth in FY22 but will also help in creating a strong sustainable, and vibrant economic growth in coming days.
However, the upside of the market remained capped with private reports that India’s retail inflation for the month of November was likely to accelerate as fruit and vegetable prices climbed.
Nifty and Nifty Bank futures price movement for 9 Dec (Dec Expiry)
The Nifty futures price opened at 17545, making a positive opening of 31. 35 points. It has touched an intraday high at 17590.90 and a day’s low at 17416.60
The Nifty futures price has given a movement of 174.3 points today. In the end, it gained 43.35 points or 0.25 percent and ended at 17557 levels.
The Bank Nifty futures opened at 37452.50. It made a positive opening of 50.2 points today. It has touched an intraday high at 37590 and a day’s low at 37017.25
During the day, the Bank Nifty futures has given a movement of 572.75 points. In the end, it closed lower by 199.30 points or 0.53 percent and closed at 37203 levels.
Nifty & Bank Nifty Prediction for Tomorrow, 10 Dec 2021 (Dec Expiry)
Nifty Futures prediction for Tomorrow, 10 Dec 2021
Primary Nifty Trend in futures: Positive
Range-Bound Trend of Nifty Futures: All up Moves Initiates Profit Booking (Sale) @ 17650 whereas All Down Moves Initiates Short Covering (Buy) @ 17500
If the Nifty futures share price Moves Above 17586 and sustain. Then you should Buy with 1st Target of 17618 during the day with a Stop Loss of 17556 FOR the Target of 17618- 17637- 17695
If the Nifty futures share price Moves Below 17530 and is sustained. Then you should Sell with the 1st Target of 17502 during the day with a Stop Loss of 17545. FOR the Target of 17502- 17474- 17445
Bank Nifty Futures prediction for Tomorrow, 10 Dec 2021
Primary Trend of Bank Nifty Futures: Positive
Range-Bound Trend of Bank Nifty Future: All up Moves Initiates Profit Booking (Sale) @ 37600 whereas All Down Moves Initiates Short Covering (Buy) @ 37000
Suppose the Bank Nifty futures Moves Above 37390 and sustain, then you should Buy with the 1st Target of 37470 during the day with a Stop Loss of 37265. FOR the Target of 37470 – 37570 – 37725
If the Bank Nifty futures Moves Below 37130 and sustain, then you should Sell with the 1st Target of 37020 during the day with a Stop Loss of 37235. FOR the Target of 37020 – 36950 – 36840
Global markets today
On the global front, Asian markets mostly closed in the green on Thursday as investors waited for US inflation data that might influence the Federal Reserve’s decision on when to roll back economic stimulus.
European market indexes are trading in the red as investors continued to monitor the efficacy of vaccines against the Omicron Coronavirus variant. US future Index, Dow, and Nasdaq futures are trading lower on Thursday at this moment ( 6 pm IST)
Conclusions
Indian markets managed to close higher on the weekly expiry day amid volatility. Markets dragged at the higher levels in the morning deal due to profit booking later it closed higher on the back of buying in media, FMCG, and metals stocks. The market will now focus on the US inflation data which is going to release tomorrow. Going ahead, the market may remain volatile and are likely to set direction as per global cues.
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