Bank Nifty Today June 14th 2017: Bank Nifty opened the day by gaining 88 points and also near the day’s high at 23,562.80. Today bank nifty moved in a 162 points range and settled 37 points in the green.9 out of 12 bank nifty stocks closed in the green.
Bank Nifty 14th June 2017 Intraday Movement:
Opening: 23,555.30 High: 23,562.80 Low: 23,399.40, Closing: 23,498.70
Bank Nifty Spot: 23,498.70(+20.85)
Bank Nifty 29 JUN 2017 Expiry Futures: 23,486.40(+37.40)
Support: 23,300 and 23,000
Bank Nifty Forecast/Outlook for 15th June 2017: Bank Nifty forms a hammer pattern which is a bearish pattern. Market is expecting FOMC meeting outcome for further movement. More over bank nifty futures trading still 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 9 points in the discount.
Bank Nifty’s Positive Signal: Long term UP trend
Bank Nifty View for Thursday: Sideways.
Bank Nifty Short Term trend: UP
Bank Nifty Target for 15th 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: 6.4 Points (i.e Total Profit: Rs 256)
Visit our website on 15th June 2017 8.30 PM to get the Bank nifty view for 16th June 2017.
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