Nifty & Bank Nifty trend for 20th Jan
Nifty & Bank Nifty trend for 20th Jan
Nifty & Bank Nifty Trend for 20th Jan: The Indian stock market opened in red on Friday, the last day of the week. On the global front, almost all markets were closed in positive on Friday. Whereas in India, market closed flat ahead of some heavyweights Q3 earnings like RIL, TCS, HCL Tech and HDFC Bank.
On Friday, the Nifty future share price opened at 12345. A gap down opening was seen by 29.35 points from the previous close. It has touched an intraday high at 12407.50 and a day’s low at 12335.
During the day the Nifty future share price had given a movement of 72.50 points on the last day of the week. Later, in the end it gained 3.15 points and closed at 12377.50.
The Bank Nifty future share price has opened 31660.25 on Friday morning, it was down by a 275.45 points. It has touched an intraday high at 31874.30 and a day’s low at 31540.
On an intraday basis, the Bank Nifty future had given a movement of 334.30 points. In the end, it declined 240.70 points and closed at 31695.
Nifty trend for 20th Jan 2020
Primary Nifty Trend in Futures: Sideways
Range-Bound Nifty Trend in Futures:
All up Moves Initiates Profit Booking (Sale) @ 12425 whereas All Down Moves Initiates Short Covering (Buy) @ 12300
If Nifty futures share price Moves Above 12394 and sustain. Then you should Buy with 1st Target of 12412 during the day with a Stop Loss of 12355 FOR the Target of 12412- 12428- 12446
If Nifty futures share price Moves Below 12355 and sustain. Then you should Sell with 1st Target of 12338 during the day with a Stop Loss of 12394. FOR the Target of 12338- 12320- 12298.
Bank Nifty Trend for 20th Jan 2020
Primary Bank Nifty Trend in Futures: Mild down to Sideways
Range-Bound Bank Nifty Trend in Futures:
All up Moves Initiates Profit Booking (Sale) @ 31940, whereas All Down Moves Initiates Short Covering (Buy) @ 31450
If Nifty Bank future share price Moves Above 31750 and sustains. Then you should Buy with 1st Target of 31840 during the day with a Stop Loss of 31620. FOR the Target of 31840 – 31940- 32025
If Nifty Bank future share price Moves Below 31620 and sustains. Then you should Sell with 1st Target of 31520 during the day with a Stop Loss of 31750. FOR the Target of 31520- 31450- 31378.
Conclusions:
Indian benchmark indices Nifty and Bank Nifty future closed mixed on last Friday. Bank Nifty trend was negative yesterday and it closed in red. All front liner banking stocks like IndusInd Bank, Yes Bank, SBI, ICICI Bank, HDFC Bank were down yesterday.
The HDFC Bank’s Q3 earnings will be announced today, RIL, TCS and HCL Tech has already reported their Q3 earnings yesterday. The market will positively react to RIL and HCL Q3 earnings. HDFC Bank’s earning will decide the movement of Bank Nifty on Monday.
Traders are also advised to follow the global market and can follow our Nifty and Bank Nifty Trend for 20th Jan.
You can also read, 10 best stocks/shares to buy now for 2020
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