Nifty | Bank Nifty Prediction for Tomorrow, 9 Dec 2021
Nifty and Bank Nifty Prediction for Tomorrow, 9 Dec 2021: Indian equity markets made a strong start on Wednesday amid positive global cues. The benchmark indices opened a gap up and extended their early gains. The sentiments become upbeat after the RBI kept the repo rate unchanged and maintained an accommodative policy stance to support the economic growth for as long as it required. All the sectoral indices closed in the green today, led by auto banking, media, and metals. The broader markets also gained in line with their larger peers. You can read the complete market updates here.
Nifty and Nifty Bank futures price movement for 8 Dec (Dec Expiry)
The Nifty futures price opened at 17343, making a positive opening of 117.6 points. It has touched an intraday high at 17527.45 and a day’s low at 17327
The Nifty futures price has given a movement of 200.45 points today. In the end, it gained 286.10 points or 1.66 percent and ended at 17511.50 levels.
The Bank Nifty futures opened at 37049. It made a positive opening of 304.3 points today. It has touched an intraday high at 37475 and a day’s low at 37006.60
During the day, the Bank Nifty futures has given a movement of 468.4 points. In the end, it closed higher by 650.80 points or 1.77 percent and closed at 37395.50 levels.
Nifty & Bank Nifty Prediction for Tomorrow, 9 Dec 2021 (Dec Expiry)
Nifty Futures prediction for Tomorrow, 9 Dec 2021
Primary Nifty Trend in futures: Positive
Range-Bound Trend of Nifty Futures: All up Moves Initiates Profit Booking (Sale) @ 17620 whereas All Down Moves Initiates Short Covering (Buy) @ 17500
If the Nifty futures share price Moves Above 17524 and sustain. Then you should Buy with 1st Target of 17556 during the day with a Stop Loss of 17504 FOR the Target of 17556- 17575- 17616
If the Nifty futures share price Moves Below 17470 and is sustained. Then you should Sell with the 1st Target of 17452 during the day with a Stop Loss of 17490. FOR the Target of 17452- 17425- 17395
Bank Nifty Futures prediction for Tomorrow, 9 Dec 2021
Primary Trend of Bank Nifty Futures: Positive
Range-Bound Trend of Bank Nifty Future: All up Moves Initiates Profit Booking (Sale) @ 37800 whereas All Down Moves Initiates Short Covering (Buy) @ 37100
Suppose the Bank Nifty futures Moves Above 37480 and sustain, then you should Buy with the 1st Target of 37588 during the day with a Stop Loss of 37350. FOR the Target of 37588 – 37722 – 37870
If the Bank Nifty futures Moves Below 36870 and sustain, then you should Sell with the 1st Target of 36684 during the day with a Stop Loss of 36960. FOR the Target of 36684 – 36542 – 36470
Global markets today
On the global front, Asian markets mostly closed in the green on Wednesday as investors bet the new variant Omicron won’t pose a big threat to the global economy. However, revised estimates showed that Japan’s economy contracted at a 3.6 percent annual rate in July- Sept end quarter.
European market indexes are trading mixed on Wednesday after two days rally. The defensive stocks are trading higher as investors weighed the effectiveness of existing vaccines against the Omicron coronavirus variant. The US future indexes, Dow and Nasdaq futures are trading in the green today at this time.
Conclusions
Indian markets made a solid comeback as investors shrugged off the worries about the Omicron virus. The positive momentum was witnessed in the markets for the second consecutive day on the back of positive global cues and RBI Policy outcomes. The broader markets also gained following their larger peers. All sectors participated in the rally.
Going ahead, Indian markets are looking positive now, traders should keep a close eye on inflation data of China, and the US expected tomorrow and the day after.
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