Nifty & Bank Nifty share price in NSE futures for 2nd March

 

Nifty & Bank Nifty share price in NSE futures for 2nd March:  It was a bloodbath on Dalal Street last Friday, Indian markets registered worst weekly losses since 2009. A negative indication from the global markets due to fear of spreading the coronavirus in other countries has bled the Indian stock market. 

Last Friday the Nifty share price in NSE futures has opened at 11380, it was opened a gap down of 249.25 points. It has touched an intraday high at 11400.05 and a day’s low at 11116.65.

On an intraday basis, the Nifty share price in futures has given a movement of 283.4 points. In the end, it fell 471.65 points and closed at 11158.

The Bank Nifty share price in NSE futures has opened last Friday at 29625. It was opened a gap down of 630.75 points from the previous close. It has touched an intraday high at 29665.25 and a day’s low at 28970.15.

During the day the Bank Nifty share price in futures has given a movement of 695.10 points. In the end, it declined by 1164.75 points and closed at 29091.

 

Nifty share price in NSE futures  for 2nd March

Primary Trend in Nifty Futures:  down

Range-Bound Trend in Nifty Futures: 

All up Moves Initiates Profit Booking (Sale) @ 11300 whereas All Down Moves Initiates Short Covering (Buy) @ 11100

If Nifty share price in NSE futures Moves Above 11227 and sustain. Then you should Buy with 1st Target of 11280 during the day with a Stop Loss of 11090 FOR the Target of 11280- 11325- 11395

If Nifty share price in NSE futures Moves Below 11090 and sustain. Then you should Sell with 1st Target of 11045 during the day with a Stop Loss of 11227 FOR the Target of 11045- 10994- 10940

 

Bank Nifty share price in futures  for 2nd March

Primary Trend of Nifty Bank Futures: down

Range-Bound Trend in Bank Nifty Futures: 

All up Moves Initiates Profit Booking (Sale) @ 30380, whereas All Down Moves Initiates Short  Covering (Buy) @ 29900.

If Bank Nifty share price in NSE futures Move Above 29252  and sustain. Then you should Buy with the 1st Target of 29378 during the day with a Stop Loss of  28970. FOR the Target of 29378 – 29515- 30725

If Bank Nifty share price in NSE futures Move Below 28970 and sustain. Then you should Sell with 1st Target of 28818 during the day with a Stop Loss of 29252. FOR the Target of 28818- 28685- 28550.

 

Conclusions: 

Indian market is following the global cues, and worldwide there is a fear of spreading coronavirus. Indian markers are falling continuously for the sixth straight trading sessions, the current trend for the market is down. 

In the domestic front, yesterday the GDP number for the Q3FY20 was announced. India’s Gross Domestic Product (GDP) grew at 4.7% in the Q3FY20 whereas the GDP growth in the previous quarter has been revised to 5.1%. Finance Minister Nirmala Sitharaman said ‘steadiness’ is a good sign after the announcement of the GDP data.

SGX Nifty is showing positive and Nasdaq closed in a flat note last Friday is a positive sign for the market. Traders should trade cautiously with strict stop loss and track the Asian markets on Monday morning for trading. Traders can also follow our Nifty & Bank Nifty share price in NSE futures for 2nd March mentioned above.

 

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