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Bank Nifty Target for Tomorrow 14th June 2017

Bank Nifty Today June 13th 2017:   Bank Nifty opened the day by losing 23 points near the day’s low. After the opening bank nifty moved higher by 168 points to hit the highs of the day at 23,615.20 and was trading firmly in the green till 2.30 PM. After 2.30 PM bank nifty lost the gains to close the day by just 7 points in the green. 6 out of 12 bank nifty stocks closed in the green.

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Bank Nifty 13th June 2017 Intraday Movement:

Opening: 23,447.00 High: 23,615.20 Low: 23,446.90, Closing: 23,477.85

Bank Nifty Spot: 23,477.85(+7.40)

Bank Nifty 29 JUN 2017 Expiry Futures: 23,449.00(-5.85)

Support: 23,300 and 23,000

Resistance: 23,750

Bank Nifty Forecast/Outlook for 14th June 2017: Bank Nifty forms an inverted hammer pattern which means the day’s open and low are equal and also open and close are almost equal. This pattern indicates bank nifty is seeing selling near the higher levels. 14th Jun Closing is important to define the trend. As there is FOMC meeting outcome we expect markets to trade in a narrow range.  More over bank nifty futures trading in the discount which indicates not much upside in the days to come. Any closing below 23,420 levels can trigger selling in the bank nifty. We again suggest to be cautious while creating long positions.

Bank Nifty’s Negative Signal. Futures trading 27 points in the discount.

Bank Nifty’s Positive Signal:  Long term UP trend

Bank Nifty View for Wednesday: Sideways.

Bank Nifty Short Term trend: UP

Bank Nifty Target for 14th 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: 6.6 Points (i.e Total Profit: Rs 264)

Click here to view nifty target for 14th June 2017

Visit our website on 14th June 2017 8.30 PM to get the Bank nifty view for 15th June 2017.

Disclaimer – No Author at myfinanicalZone.com 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

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