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Bank Nifty Target for Tomorrow 16th June 2017

Bank Nifty Today June 15th 2017: Bank Nifty opened the day by losing 54 points and stayed in the negative throughout session, but we can see some pullback during the end of the day to close the day at 23,391.75 by losing 106 points. Only 1 out of 12 bank nifty stocks closed in the green and heavy weights are also losing momentum.

Click here to view the Gold Trend

Bank Nifty 15th June 2017 Intraday Movement:

Opening: 23,444.70 High: 23,473.30 Low: 23,311.85, Closing: 23,391.75

Bank Nifty Spot: 23,391.75(-106.95)

Bank Nifty 29 JUN 2017 Expiry Futures: 23,387.25(-99.15)

Support: 23,300 and 23,000

Resistance: 23,750

Bank Nifty Forecast/Outlook for 16th June 2017: Bank Nifty forms a hammer pattern which is a bearish pattern and also more bank nifty futures is still trading in the discount in addition to it bank nifty closing was near the 13-day EMA. Any closing below 23,280 can open up another 600 points down fall.

Bank Nifty’s Negative Signal. Futures trading 4 points in the discount.

Bank Nifty’s Positive Signal:  Long term UP trend

Bank Nifty View for Friday: Sideways with negative bias.

Bank Nifty Short Term trend: UP

Bank Nifty Target for 16th June 2017: Bank Nifty can move between 23,000 -23,750 levels.

Bank Nifty Long Term up trend reversal point: Closing below 22500 Levels.

Bank Nifty 29 Jun 2017 Expiry Strategy: Buy one lot 23500 PUT at 265 and sell two lots of 22800 PUT at 74. Total Premium: 117. Hold for a target of Rs 400 and stop loss Rs 10.Current Profit: 42.55 Points (i.e Total Profit: Rs 1702)

Click here to view nifty target for 16th June 2017

Visit our website on 16th June 2017 8.30 PM to get the Bank nifty view for 19th June 2017.

Disclaimer – No Author at is registered with SEBI or any regulating authority as a Research Analyst or an Investment Adviser. Please Consult Your Investment Adviser before making any Investment/Trading decisions based on content posted in this Website. Here we write only what we do and all information posted in this website is for Educational purpose only

This post first appeared on My Financial Zone, please read the originial post: here

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Bank Nifty Target for Tomorrow 16th June 2017


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