Bank Nifty Today June 28th 2017: Bank Nifty opened the day flat and move in narrow range of 200 points. Bank nifty today was able to defend yesterday’s low and close the day by gaining 19 points and also above the opening levels at 23,235.85. 6 out 12 bank nifty stocks closed in the red.
Bank Nifty 28th June 2017 Intraday Movement:
Opening: 23,209.55 High: 23,322.55 Low: 23,113.65, Closing: 23,235.85
Bank Nifty Spot: 23,235.85(+19.60)
Bank Nifty 29 JUN 2017 Expiry Futures: 23,240.10(+11.10)
Support: 23,000 and 22,900
Resistance: 23,500 and 23,900
Bank Nifty Forecast/Outlook for 29th June 2017: Bank Nifty forms a doji pattern after strong bearish candle is a positive sign. We can expect a bounce back from this level but one can short the bounce back till bank nifty cross 13-Day EMA placed at 23,465. We hold our suggestion to use any bounce back to sell the bank nifty for the target of 22,900 with a stop around 23,500.Bank nifty as a strong support near 23,900 which is also its 50-Day EMA.
Bank Nifty’s Negative Signal. Bearish Pattern and well below key moving averages.
Bank Nifty’s Positive Signal: Long term UP trend
Bank Nifty View for Thursday: Sideways with negative bias.
Bank Nifty Short Term trend: UP
Bank Nifty Target for 29th June 2017: Bank Nifty can move between 23,000 -23,500 levels.
Bank Nifty Long Term up trend reversal point: Closing below 22500 Levels.
Click here to view the Gold Trend
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.Booked Profit with gain of 215 Points (i.e Total Profit: Rs 8600)
Click here to view nifty target for 29th June 2017
Visit our website on 29th June 2017 8.30 PM to get the Bank nifty view for 30th June 2017.
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