Stock market closing today, Nifty and Bank Nifty prediction for tomorrow

 

Indian Stock Market at Closing Today: Indian stock market made a cautious start today amid negative global cues. The markets were uncertain and struggling to find direction in the early morning and most of the day it traded neutral today. The Bank Nifty was trading volatile in a narrow range during the morning and end of the trading session today.

The market sentiments were pessimistic due to Indo-China border tension and rising coronavirus cases in India. India is the worst-hit nation after the US and the registered 91,723 cases in a single day on Monday. Traders have overlooked the finance ministry’s statement that the country is witnessing a V-shaped economic recovery.

 

Today’s stock market at closing

 

While closing, the Indian stock market today was marginally higher. The Nifty gained 21.2 points or 0.19% and closed at 11255.05 while Sensex gained 60.05 points or 0.16% and at 38417.23. The Bank Nifty on spot level declined 66.45 points or 0.28% and closed at 22945.05 levels.

The Nifty midcap 100 closed in the red today, it fell 145.95 points or 0.86% and closed at 16780.25 levels. The Nifty smallcap 100 gained 6.55 points or 0.12% and closed at 5685.45 levels. 

The top five gainers in the Nifty index are Bharti Infratel, HDFC Life, Dr. Reddy’s Lab, HUL, and TCS. The top losers in the Nifty index are M&M, UPL, Bajaj Finance, NTPC, and Gail. Reliance, Vodafone, and Bajaj Finance are the most active stocks in the NSE today.

The top gaining sectors while closing the stock market today are IT & Software, FMCG, Healthcare, Insurance, and Logistics. The sectors that closed in the red are Banking & Finance, Infrastructure, Metals, Real Estate, and Telecom.

Nifty and Bank Nifty futures at closing today

 

The NSE Nifty futures opened at 11351.10, and it made a flat opening of 0.65 points down today. It has touched an intraday high at 11393.25 and a day’s low at 11266

The NSE Nifty futures has given a movement of 127.25 points. In the end, it gained 38.2 points or 0.34% and closed at 11389.95 levels.

The NSE banking index Bank Nifty futures opened at 23016.35. It was made a negative opening of 10.3 points today. It has touched an intraday high at 23125.90 and a day’s low at 22721

During the day, the Bank Nifty futures has given a movement of 404.9 points. In the end, it declined by 11.65 points and closed flat at 23015 levels

 

Nifty & Bank Nifty futures for 8th Sept ( Sept Expiry)

 

NSE Nifty prediction in futures for 8th Sept 2020

Primary Nifty Trend in futures: Mild Positive

Range-Bound Trend of Nifty Futures: All up Moves Initiates Profit Booking (Sale) @ 11430 whereas All Down Moves Initiates Short Covering (Buy) @ 11300

If Nifty share price in futures Moves Above 11409 and sustain. Then you should Buy with 1st Target of 11432 during the day with a Stop Loss of 11348. FOR the Target of 11432- 11455- 11476

If Nifty share price in futures Moves Below 11348 and sustain. Then you should Sell with 1st Target of 11327 during the day with a Stop Loss of 11409. FOR the Target of 11327- 11304- 11280

 

NSE index Bank Nifty prediction in futures, 8th Sept  2020

Primary Trend of Bank Nifty Futures: Mild Positive

Range-Bound Trend of Bank Nifty Future: All up Moves Initiates Profit Booking (Sale) @ 23250, whereas All Down Moves Initiates Short  Covering (Buy) @ 22550

If the Bank Nifty share price in futures  Moves Above 23130 and sustain. Then you should Buy with 1st Target of 23180 during the day with a Stop Loss of  22880. FOR the Target of 23180 – 23270- 23356

If the Bank Nifty share price in futures Moves Below 22880 and sustained. Then you should Sell with 1st Target of 22780 during the day with a Stop Loss of 23130. FOR the Target of 22780 – 22650- 22540

 

Conclusions:

Indian stock markets were traded sideways during the day and later managed to close in the green today. In absence of any trigger, the market may trade in range-bound and follow global cues tomorrow.  

You may be interested to check out the latest charting platform for your strategy here. Traders can also follow our Daily Stock/Share Market live and NSE Nifty and Bank Nifty share price prediction in futures for 8th Sept.

 

You can also read, Best Stock Market Books to Make Money

Indian Equity Market Next week: Nifty and Bank Nifty trend

 

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