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Bank Nifty Target for Tomorrow 20th June 2017

Bank Nifty Today June 19th 2017: Bank Nifty showed bullish trend after a strong historical closing. As the bank nifty opened 70 points in the green and moved higher to cross 23,800 and closed 239 points in the green in the closing. 9 out of 12 bank nifty stocks closed in the green.

Bank Nifty 19th June 2017 Intraday Movement:

Opening: 23,571.35 High: 23,806.65 Low: 23,535.70, Closing: 23,742.15

Bank Nifty Spot: 23,742.15(+239.40)

Bank Nifty 29 JUN 2017 Expiry Futures: 23,699.70(+239.55)

Support: 23,500 and 23,230

Resistance: 23,900

Bank Nifty Forecast/Outlook for 19th June 2017: Bank Nifty forms a bullish pattern and also showing some signs of reversal but open interest is decreasing which is not backing this up move, so we suggest cautious while creating long positions.

Bank Nifty’s Negative Signal. Futures trading 42 points in the discount.

Bank Nifty’s Positive Signal:  Long term UP trend

Bank Nifty View for Tuesday: Sideways with negative bias.

Bank Nifty Short Term trend: UP

Bank Nifty Target for 20th June 2017: Bank Nifty can move between 23,500 -23,900 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 Loss: 49.60 Points (i.e Total Loss: Rs 1984)

Click here to view nifty target for 20th June 2017

Visit our website on 20th June 2017 8.30 PM to get the Bank nifty view for 21th 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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