Nifty and Bank Nifty share price for 20th Feb
Nifty and Bank Nifty share price target for 20th Feb
Nifty and Bank Nifty share price for the 20th Feb: Indian stock market opened in a strong note today and later extended its morning gains. The market was trading higher after four days of declines. Positive global cues and gains across all sectors boost the market sentiments today. In the end, it closed higher in a strong positive note.
The NIfty share price in futures opened at 12110, it opened a gap up by 103.9 points from the previous day’s close. It has touched an intraday high at 12150.55 and a day’s low at 12047.65.
During the day the Nifty share price in futures has given a movement of 102.90 points. In the end, it gained 141.9 points and closed 12148
The Bank Nifty share price in futures opened today at 30875, it was up by 293.6 points from yesterday’s close. It has touched an intraday high at 30940 and a day’s low at 30652.
On an intraday basis, the Bank Nifty share price in futures has given a movement of 288 points. In the end, it gained 281.05 points and closed 30862.45
Nifty share price for 20th Feb
Primary Trend in Nifty Futures: Mild up
Range-Bound Trend in Nifty Futures:
All up Moves Initiates Profit Booking (Sale) @ 12220 whereas All Down Moves Initiates Short Covering (Buy) @ 12050
If Nifty share price in futures Moves Above 12184 and sustain. Then you should Buy with 1st Target of 12202 during the day with a Stop Loss of 12110 FOR the Target of 12202- 12220- 12260
If Nifty share price in futures Moves Below 12110 and sustain. Then you should Sell with 1st Target of 12091 during the day with a Stop Loss of 12184 FOR the Target of 12091- 12070- 12047.
Bank Nifty share price in futures for 20th Feb
Primary Trend of Nifty Bank Futures: Mild up and volatile
Range-Bound Trend in Bank Nifty Futures:
All up Moves Initiates Profit Booking (Sale) @ 31250, whereas All Down Moves Initiates Short Covering (Buy) @ 30620.
If Bank Nifty share price in futures Move Above 30980 and sustain. Then you should Buy with 1st Target of 31045 during the day with a Stop Loss of 30740. FOR the Target of 31045 – 31110- 31250
If Bank Nifty share price in futures Move Below 30740 and sustain. Then you should Sell with 1st Target of 30695 during the day with a Stop Loss of 30980. FOR the Target of 30695- 30620- 30530.
Conclusions:
Indian stock market closed in the green after four consecutive declines in a row. The market support received from both globally and domestically today. Market sentiment boost after Nirmala Sitharaman stated that the government will announce measures to deal with the impact of coronavirus outbreak on the domestic industry.
Tomorrow the Indian market may remain positive in a volatile mood due to weekly expiry. Traders are advised to follow the SGX Nifty in the morning for global cues and follow our Nifty & Bank Nifty share price target mentioned above for the 20th Feb 2020 trading
You can also read, Weekly Market Updates: Nifty50 & Sensex next week
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