Sensex, Nifty, and Bank Nifty share price closed in the red, here’s is what you should know

 

Sensex, Nifty, and Bank Nifty share price today’s updates: It was a weak start for the Indian markets today due to negative global cues and concerns over India-China tensions. The market was trading negatively throughout the trading session today. In the last hour, the market recovered some of its losses and closed in the red.

The market sentiments were negative due to increasing coronavirus cases in the country. India has recorded 90,000 new cases in the last 24 hours and the total death climbed to 73923. Traders were concerns about the news that the clinical trials for the Covid-19 vaccine by the University of Oxford that was expected to start in Chandigarh have been delayed by at least a week over safety approvals.

On the global front, Asian markets traded in the red today after following the sharp losses overnight on Wall Street. Astra Zeneca candidate for Covid-19 vaccine partnership with the Oxford University has halted its final trail due to a potentially unexplained illness in a UK volunteer. Traders are concerns about the delay in the vaccine which is eagerly waiting by the whole world.

The European markets are trading in the green today. The US market Down and Nasdaq futures are also trading higher today after three negative trading sessions.

 

Sensex, Nifty, and Bank Nifty share price on spot levels today

 

At the close, the Nifty closed lower by 39.35 points or 0.34% and at 11278 while Sensex down by 171.43 points or 0.44% and at 38193.92 levels. The Bank Nifty on spot levels declined 477.40 points or 2.09% and closed at 22267 levels.

The Nifty midcap and smallcap 100 indices closed in the red. The Nifty midcap index declined by 89.75 points or 0.54% and at 16450.15. The smallcap index was down by 84.90 points or 1.51% and closed at 5546.25 levels.

The top five gainers in the Nifty index for the day are Zee Entertainment, Tata Steel, Cipla, Reliance, and JSW Steel. The top five losers for the Nifty index are SBI, Gail, Bajaj Finserve, Axis Bank, and IOC. The most active stocks in the NSE today were Reliance, Bharti Airtel, and Bajaj Finance.

On a sectoral basis, Oil & Gas, Metals & Minings, Healthcare, Telecom, and Automobiles sectors closed in the green. On the losing side Banking & Finance, Capital Goods, IT & Software, Infrastructures, and Real Estate sectors are closed in the red today.

 

Nifty and Bank Nifty share price in futures today

 

The Nifty futures opened at 11245, and it made a negative opening of 74.85 points today. It has touched an intraday high at 11324 and a day’s low at 11202

The Nifty futures has given a movement of 122 points. In the end, it declined 2.1 points and closed flat at 11317.75 levels.

The NSE banking index Bank Nifty futures opened at 22500. It was made a negative opening of 248.85 points today. It has touched an intraday high at 22575 and a day’s low at 22128.95

During the day, the Bank Nifty futures has given a movement of 446.05 points. In the end, it declined by 373.84 points or 1.64% and closed at 22375 levels

 

Nifty & Bank Nifty share price target in futures for 10th Sept ( Sept Expiry)

 

Nifty share price target in futures for 10th Sept 2020

Primary Nifty Trend in futures: Mild Positive

Range-Bound Trend of Nifty Futures: All up Moves Initiates Profit Booking (Sale) @ 11400 whereas All Down Moves Initiates Short Covering (Buy) @ 11260

If Nifty share price in futures Moves Above 11332 and sustain. Then you should Buy with 1st Target of 11348 during the day with a Stop Loss of 11258. FOR the Target of 11348- 11374- 11402

If Nifty share price in futures Moves Below 11258 and sustain. Then you should Sell with 1st Target of 11238 during the day with a Stop Loss of 11332. FOR the Target of 11238- 11198- 11160

 

NSE Bank Nifty share price target in futures, 10th Sept  2020

Primary Trend of Bank Nifty Futures: Mild Negative

Range-Bound Trend of Bank Nifty Future: All up Moves Initiates Profit Booking (Sale) @ 22700, whereas All Down Moves Initiates Short  Covering (Buy) @ 22250

If the Bank Nifty share price in futures  Moves Above 22480 and sustain. Then you should Buy with 1st Target of 22590 during the day with a Stop Loss of  22250. FOR the Target of 22590 – 22698- 22815

If the Bank Nifty share price in futures Moves Below 22250 and sustained. Then you should Sell with 1st Target of 22140 during the day with a Stop Loss of 22480. FOR the Target of 22140 – 22000- 21930

 

Conclusions:

Indian markets recovered most of their losses in the last hour and in the end, markets closed in the red. The global market weakness, Indo-China border tensions, and a setback to Astra Zeneca’s Covid-19 vaccine trials dragged down the market today.

The European markets and US futures markets are trading in positive today. Tomorrow the global cues will decide the Indian market opening. You can also follow our Daily Stock/Share Market live updates to know the Market Opening views.

Traders can also follow our Nifty and Bank Nifty share price target in futures for 10th Sept. 

You can check out the latest charting platform for your strategy here

 

Also read, Best Stock Market Books to Make Money

                 Indian Equity Market Next week: Nifty and Bank Nifty trend

 

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