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