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Bank Nifty Target for Tomorrow 23rd June 2017

Bank Nifty Today June 22nd 2017: Bank Nifty opened in the green and move to hit new historical intraday high of 23,897.85 and drifted lower to hit the lows of the day of 23,694.15 and move up higher to close the day by gaining 27 points. 5 out of 12 bank nifty stocks closed in the green

Bank Nifty 22nd June 2017 Intraday Movement:

Opening: 23,716.85 High: 23,897.85 Low: 23,694.15, Closing: 23,736.10

Bank Nifty Spot: 23,736.10(+27.35)

Bank Nifty 29 JUN 2017 Expiry Futures: 23,728.90(+35.25)

Support: 23,500 and 23,230

Resistance: 23,900

Bank Nifty Forecast/Outlook for 23rd June 2017: Bank Nifty forms an inverted hammer pattern which is bearish signal and 23,900 levels will act as resistance for bank nifty to cross. Still bank nifty futures are trading in the discount and also open interest is decreasing which is not giving any clear signals. So we suggest cautious while creating positions.

Bank Nifty’s Negative Signal. Futures trading 8 points in the discount and inverted hammer pattern

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 23rd 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: 82 Points (i.e Total Loss: Rs 3280)

Click here to view nifty target for 23rd June 2017

Visit our website on 24nd June 2017 8.30 PM to get the Bank nifty view for 27th 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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