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Bank Nifty Target for Tomorrow 29th June 2017

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.

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 29th June 2017


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