Indian Stock Market:Nifty and Bank Nifty Future 9th to 13th Sept

Nifty and Bank Nifty future
Nifty and Bank Nifty Future
Indian stock market closed in a positive note on Friday the last day of the week. On a weekly basis, the Nifty and Sensex fell 77 and 351 points and closed at 10946.20 and 36981.77 respectively. Bank Nifty also declined 180 points during the week and closed at 27247.90.


Indian Stock Market last week

During the week the market was trading range-bound, Nifty was trading in a 200 points range. On the first day of the week, the market reacted to weak GDP numbers and the PSU bank merger. The last day of the market closed in a positive zone because of positive global cues, strong US data, hopes of easing trade tension of US and China, the expectation to relax tax on auto sectors.


The top five Nifty50 gainers in the last week are Coal India,  Dr. Reddy’s lab, BPCL, ONGC, and NTPC. The top Nifty50 losers in the last week are  Indiabulls Housing, HDFC, Sun Pharma Inds, Asian Paints and IndusInd Bank.


In the last four days, FIIs sold Rs 5272.91 corers in the cash segment and bought Rs 4220.58 crores in F&O (stocks+index). DIIs are the net buyers so far in the cash segment in this month bought Rs 4462.44 crores.


Indian rupee closed at Rs71.65 against the dollar gained 0.27% during the week. The Brent crude oil future index closed at $ 61.54 per barrel the price increased by almost 2% during the week.


Next week again there will be four trading session, Tuesday 10th September Indian stock market will be closed on account of Moharram. Thursday, 12th September, July months IIP data and Aug months CPI data will be released after the market. On Friday, Bank loan growth, foreign exchange reserve, and deposit growth data will be released.


Nifty and Bank Nifty future trading view for next week



Primary Trend of Nifty Future: Volatile to Sideways


Range-Bound Trend: All up Moves Initiates Profit Booking (Sale) @ 11140 whereas All Down Moves Initiates Short Covering (Buy) @ 10860


If Nifty Future Moves Above 10976 then you should Buy with 1st Target of 10997 during the day or any point during the week by Trailing the Stop Loss from 10945- 10990- 11040- 11130  FOR the Target of 10997- 11020- 11074- 11148


If Nifty Future Moves Below 10945 then you should Sell with 1st Target of 10920 during the day or any point during the week by Trailing the Stop Loss from 11076- 10994- 10960 -10915 FOR the Target of 10920- 10890- 10862 -10830


Primary Trend of Bank Nifty Future:  Volatile to Sideways


Range-Bound Trend: All up Moves Initiates Profit Booking (Sale) @ 27650, whereas All Down Moves Initiates Short  Covering (Buy) @ 26970


If Bank Nifty Future Moves Above 27345 then you should Buy with 1st Target of 27452 during the day or any point during the week by Trailing the Stop Loss from 27230- 27390- 27510- 27640 FOR the Target of 27452- 27538- 27615- 27794


If Bank Nifty Future Moves Below 27230 then you should Sell with 1st Target of 27150 during the day or any point during the week by Trailing the Stop Loss from 27550- 27405- 27320- 27132 FOR the Target of 27150- 27076- 26974- 26860


Conclusions: 



On Tuesday 10th September, the Indian stock market will be closed on account of Moharram. The Indian market will follow the global cues next week. Thursday after the market hours CPI and IIP data will be released, the market will react on the data on Friday. Any positive news in auto and infra sectors can also make the Indian stock market positive for the next week. Traders are advised to follow closely the above events before placing any trades.


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Finogyan Team


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Indian Stock Market:Nifty and Bank Nifty Future 9th to 13th Sept Indian Stock Market:Nifty and Bank Nifty Future 9th to 13th Sept Reviewed by Finogyan on September 07, 2019 Rating: 5

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