Nifty & Bank Nifty trend and target for 31st Dec

 

The Nifty trend was sideways today. The Bank Nifty was trading volatile in a tight range and in the end it closed in red.

The Nifty future opened at 12326.75, it was up 7.5 points only while opening. It has touched an intraday high at 12348 and day’s low at 12276 today. 

During the day the Nifty future has given a movement of 72 points today. In the end, it has gained 13.50 points and closed at 12332.40.

The Bank Nifty future opened at 32632.45, it was up 27.75 points. It has touched an intraday high at 32773.85 and an intraday low at 32431. During the day the Bak Nifty future has given a movement of  342.85 points.

In the end, Bank Nifty future has declined 52.10 points and closed at 32552.60.

 

Nifty trend for  31st Dec

Primary Nifty Futures Trend:  Sideways

Range-Bound Trend of Nifty Futures:

All up Moves Initiates Profit Booking (Sale) @ 12380 whereas All Down Moves Initiates Short Covering (Buy) @ 12260

If Nifty futures share price Moves Above 12340 and sustain. Then you should Buy with 1st Target of 12360 during the day with a Stop Loss of 12310 FOR the Target of 12360- 12378- 12394

If Nifty futures share price Moves Below 12310 and sustain. Then you should Sell with 1st Target of 12394 during the day with a Stop Loss of 12298. FOR the Target of 12294- 12278- 12258

 

 Bank Nifty Trend for 31st Dec19

Primary Trend of Bank nifty Future: Sideways

Range-Bound Trend of Bank Nifty Future:

All up Moves Initiates Profit Booking (Sale) @ 32820, whereas All Down Moves Initiates Short  Covering (Buy) @ 32380

If Bank Nifty future share price Moves Above 32598  and sustain. Then you should Buy with 1st Target of 32650 during the day with a Stop Loss of  32498 FOR the Target of 32650 – 32745- 32832

If Bank Nifty future share price Moves Below 32498 and sustained. Then you should Sell with 1st Target of 32397 during the day with a Stop Loss of 32598 FOR the Target of 32397 – 32320- 32250

 

Conclusions: 

Indian stock market closed in a flat note today. Nifty was marginally up and Bank Nifty closed marginally down today. Today the Nifty trend was sideways to positive whereas the Bank Nifty trend was down after a few minutes of positive trading in the morning. Indian market will remain sideways to range-bound in the coming few days.

Traders should follow the global market in the morning tomorrow to get an indication of the market open. You can also follow our Nifty and Bank Nifty trend and target for 31st Dec19 and Weekly market views and trends here.

 

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