Nifty and Bank Nifty future share price target for 1st Jan 2020

 

Nifty& Bank Nifty Share Price for 1st Jan: Indian stock market opened in negative zone today and later extended its losses. A sharp fall in the markets was seen in the last half an hour after the Finance Minister started a press conference. 

In the press conference, FM announced for Rs 100 Lakh crore investment in the Infrastructure sector over 5 years.

The Nifty future share price opened today at 12296.40, it was down by 32.90 points. It has touched an intraday high at 12312.60 and a day’s low at 12230.15. 

During the day Nifty future share price has given a movement of 82.45 points. In the end, it was down 80.40 points and closed at Rs 12248.90.

The Bank Nifty future share price today opened at 32478.70, it was down by 75.35 points. It has touched an intraday high at 32521.90 and a day’s low at 32320.

During the day the Bank Nifty future share price has given a movement of 201.90 points. In the end, it fell 177.50 points and closed at 32376.55.

 

Nifty Future share price target for 1st Jan 2020

Primary Nifty Futures Trend:  Sideways

Range-Bound Trend of Nifty Futures:

All up Moves Initiates Profit Booking (Sale) @ 12330 whereas All Down Moves Initiates Short Covering (Buy) @ 12180

If Nifty futures share price Moves Above 12264 and sustain. Then you should Buy with 1st Target of 12282 during the day with a Stop Loss of 12225 FOR the Target of 12282- 12298- 12325

If Nifty futures share price Moves Below 12225 and sustain. Then you should Sell with 1st Target of 12208 during the day with a Stop Loss of 12264. FOR the Target of 12208- 12182- 12150

 

 Bank Nifty Future share price target 1st Jan 2020

Primary Trend of Bank nifty Future: Sideways

Range-Bound Trend of Bank Nifty Future:

All up Moves Initiates Profit Booking (Sale) @ 32550, whereas All Down Moves Initiates Short  Covering (Buy) @ 32200

If Bank Nifty future share price Moves Above 32420  and sustain. Then you should Buy with 1st Target of 32448 during the day with a Stop Loss of  32338 FOR the Target of 32448 – 32482- 32550

If Bank Nifty future share price Moves Below 32338 and sustained. Then you should Sell with 1st Target of 32292 during the day with a Stop Loss of 32420 FOR the Target of 32292 – 32240- 32205

 

Conclusions: 

Today market was trading in negative zone but a sharp fall was seen in the last hour exactly ahead of FM’s press conference. The market is still looking positive in 2020 for the long run and sideways for the immediate term.

You can also follow our Nifty and Bank Nifty trend and target for 1st Jan 2020 and Weekly market views and trends here.

 

You can also read, 10 best stocks/shares to buy now for 2020

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