Nifty & Bank Nifty share price in futures for 9th March

 

Nifty and Bank Nifty share price updates and target for 9th March: On Friday, the Indian share market opened in the red after getting a negative indication from the global market. The market reacted to the Yes Bank crisis along with coronavirus impact on the global economy on last Friday. 

RBI on Thursday night has suspended the board of Yes Bank and imposed a month-long moratorium. The Reserve Bank of India has also put restrictions on withdrawal limits up to 50K for Yes Bank’s account holders. The details of Friday’s market updates are available here.

The Nifty share price in futures opened on Friday at 10906.95, it was opened gap down of 348.4 points. It has touched an intraday high at 10998.90 and a day’s low at 10830.10.

During the day, the Nifty share price in futures has given a movement of 168.80 points. In the end, it declined 327.85 points and closed at 10927.50.

The Bank Nifty share price in futures opened at 27710.15 on last Friday. It was opened a gap down of 1119.15 points on Friday. It has touched an intraday high at 28063.65 and a day’s low at 27280.

On an intraday basis, the Bank Nifty share price in futures has given a movement of 783.65 points. In the end, it declined by 1079.30 points and closed at 27750.

Nifty share price in futures for 9th March

Primary Trend in Nifty Futures:  down

Range-Bound Trend in Nifty Futures: 

All up Moves Initiates Profit Booking (Sale) @ 11000 whereas All Down Moves Initiates Short Covering (Buy) @ 10790

If Nifty share price in NSE futures Moves Above 10974 and sustain. Then you should Buy with 1st Target of 11006 during the day with a Stop Loss of 10908 FOR the Target of 11006- 11040- 11076

If Nifty share price in NSE futures Moves Below 10908 and sustain. Then you should Sell with 1st Target of 10875 during the day with a Stop Loss of 10974 FOR the Target of 10875- 10838- 10795

 

Bank Nifty share price futures for 9th March

Primary Trend of Nifty Bank Futures: down

Range-Bound Trend in Bank Nifty Futures: 

All up Moves Initiates Profit Booking (Sale) @ 28100, whereas All Down Moves Initiates Short  Covering (Buy) @ 27300.

If Bank Nifty share price in NSE futures Move Above 27920  and sustain. Then you should Buy with the 1st Target of 28110 during the day with a Stop Loss of  27675. FOR the Target of 28110 – 28280- 28450

If Bank Nifty share price in NSE futures Move Below 27675 and sustain. Then you should Sell with 1st Target of 27525 during the day with a Stop Loss of 27920. FOR the Target of 27525- 27335- 27125.

 

Conclusions: 

Indian stock market closed in the red due to weak global cues. The US and European markets closed in the negative last Friday and SGX Nifty also indicating negative opening on Monday. Now it all depends on the Asian Markets how it opens on Monday, positive cues from the Asian Market on Monday morning can open Indian market in positive.

Traders should trade cautiously with strict stop loss and track the Asian markets for Monday’s trading. Traders can also follow our Nifty & Bank Nifty share price in futures for 9th March for day trading.

You can also read,  Nifty50 Stocks list | Index | Share price

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