Nifty and Bank Nifty Prediction for Tomorrow 9 Feb 2023
Nifty and Bank Nifty Prediction for Tomorrow 9 Feb 2023: Indian equity markets ended with strong gains on Wednesday after the RBI policy outcome. The market extended early gains after RBI raised a 25 bps repo rate as widely expected and after it said remained focused on the withdrawal of accommodation. All sectoral indices closed higher with Metals, IT, and Pharma gaining the most today.
The market breadth was positive today. The broader markets also gained almost in line with their larger peer, as the Nifty mid and smallcap indices gained 0.91 percent and 0.84 percent respectively. At the close, Nifty and Sensex advanced 0.63 percent and 0.85 percent respectively. You can read detailed market updates here.
Nifty and Bank Nifty futures price movement for 8 Feb
The Nifty futures price opened at 17802.05 making a higher opening of 19.4 points today. It has touched an intraday high of 17939.35 and a day’s low of 17786.05
The Nifty futures price has given a movement of 153.3 points today. In the end, it closed higher by 126 points or 0.71 percent and ended at 17908.65 levels.
The Bank Nifty futures opened at 41555.55 It made a positive opening of 86.25 points. The Bank Nifty futures touched an intraday high at 41921.35 and a day’s low at 41520
During the day, the Bank Nifty futures have given a movement of 401.35 points. In the end, it closed higher by 11.75 points or 0.03 percent and closed at 41653 levels.
Nifty & Bank Nifty Prediction for Tomorrow 9 Feb 2023 (Feb Expiry)
Nifty Futures Prediction for Tomorrow 9 Feb 2023
Primary Nifty Trend in futures: Positive
Range-Bound Trend of Nifty Futures: All up Moves Initiates Profit Booking (Sale) @ 18050 whereas All Down Moves Initiates Short Covering (Buy) @ 17800
If the Nifty futures share price Moves Above 17935 and sustains. Then you should Buy with the 1st Target of 17962 during the day with a Stop Loss of 17898 FOR the Target of 17962- 17994- 18028- 18055
If the Nifty futures (Feb Series) share price Moves Below 17840 and is sustained. Then you should Sell with the 1st Target of 17809 for the day with a Stop Loss of 17874. For the Target of 17809- 17780- 17744- 1706
If you want Live Trading calls for Nifty, Bank Nifty, Stocks Futures & Options, and Global/Domestic market happenings then join our Telegram Channel – https://t.me/nifty50stocks1
Bank Nifty Futures Prediction for Tomorrow 9 Feb 2023
Primary Trend of Bank Nifty Futures: Positive
Range-Bound Trend of Bank Nifty Future: All up Moves Initiates Profit Booking (Sale) @ 42200 whereas All Down Moves Initiates Short Covering (Buy) @ 41500
Suppose the Bank Nifty futures (Feb Series) Moves Above 41840 and sustain, then you should Buy with the 1st Target of 41935 during the day with a Stop Loss of 41680 and the Target of 41935- 42130- 42250- 42370
If the Bank Nifty futures (Feb Series) Moves Below 41480 and sustain, then you should Sell with the 1st Target of 41390 the day with a Stop Loss of 41610. For the Target of 41390- 41285- 41200- 41130
Global Stock Market Updates
On the global front, Asian stock markets closed mixed on Wednesday tracking positive cues from Wall Street overnight, as investors become encouraged after US Fed Chair Jerome Powell said inflation was falling, indicating rate hike could pause.
Shanghai and Hang Seng gave up their early gains on Wednesday after an initial boost from a less than hawkish US Fed chair due to fears over an escalation in tensions following the China spy balloon saga, while some investors waited for more proof of economic recovery. Japan’s Nikkei closed lower, as shares in Sharp, Nintendo, and Softbank declined after disappointing results.
European markets are trading higher on Wednesday following the positive cues from Wall Street overnight after less-hawkish-than-anticipated comments from US Federal Reserve chief Jerome Powell. The US future indexes, Dow and Nasdaq futures are trading marginally lower at 5 pm IST
Conclusion
Indian stock market indexes gained for the third consecutive day on Wednesday. The domestic market sentiment improved due to positive global cues, RBI policy outcome as expected, and buying in Adani group stocks. Indian markets look positive ahead but investors should remain cautious about the renewed geopolitical tension between China and US. You can follow our Daily Morning Report at 7.30 am for market direction.
Also, read Best Stock Market Books You Must Read-2023
Stock Market Prediction Next Week (6-10 Feb 2023)
If you like the post “Nifty and Bank Nifty Prediction for Tomorrow 9 Feb 2023” please share it with others
Happy Investing!
Editor’s Desk
Disclaimer-
Nifty50Stocks.com has taken due care and caution to compile the data for its Website. The views and investment tips expressed by investment experts on Nifty50Stocks.com are their own and for educational purposes. Nifty50Stocks.com is not SEBI registered Advisors. Nifty50stocks.com advises its users to check with certified and SEBI-registered experts before taking any investment decision. However, Nifty50Stocks.com does not guarantee the accuracy, adequacy, or completeness of any information. Nifty50stocks.com is not responsible for any errors or omissions or the results obtained from the use of such information. Nifty50Stocks.com especially states that it has no financial liability whatsoever to any user on account of the use of information provided on its website.
