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Bank Nifty Target for Tomorrow 29th May 2017

Bank Nifty Today May 26th 2017: Bank Nifty on Friday opened in the red but after hitting 23,092 the day’s low, then the index started to gain strength to strength to hit the new historical highs and to close the day at 23,362.20. Bank Nifty is stronger the nifty.

Bank Nifty 26th May 2017 Intraday Movement:

Opening: 23,151.40, High: 23,408.35, Low: 23,092.35, Closing: 23,362.20

Bank Nifty Spot: 23,362.20 (+171.40)

Bank Nifty 29 JUN 2017 Expiry Futures: 23,256.95(+223.50)

Support: 22,750 and 22,500

Resistance: 23,500

Bank Nifty Forecast/Outlook for 29th May 2017: Bank Nifty formed a bullish candle and trading in uncharted territory shows the bank nifty is in the positive trend but Bank Nifty Jun Futures trading 106 points in the discount.so we suggest to be cautious on the move till the data backs the move.

Bank Nifty’s Negative Signal:  Bank nifty futures is trading in the discount

Bank Nifty’s Positive signal:  Bullish pattern, Long term UP trend

Bank Nifty View for Friday: Sideways.

Bank Nifty Short Term trend: UP

Bank Nifty Target for 29th May 2017: Bank Nifty can move between 22,750 -23,550 levels.

Bank Nifty Long Term up trend reversal point: Closing below 21750 Levels.

Open Strategies:

  1. Buy trade created on 24th May 2017 on 22,500 29 JUN 2017 PUT @ 390 and again 22,500 29 JUN 2017 PUT was bought on 25th May 2017 @ 180. Hold the current average cost with average cost @ 285 for a target of 550 stop around 100.Current Loss: 145 Points.

Click here to view nifty target for 29th may 2017

Visit our website on 29th may 2017 8.30 PM to get the Bank nifty view for 30th May 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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2 comments

  1. BankNIFTY buy put 22500 29 Jun series on average price 187 for quantity 280.

    Please advise

    • This 800 point up-move is surprise move and not backed by the data as you see the bank nifty futures is trading in the discount.Any up-move without correcting to 21750 will increase the risk in the market.some times market can surprise us. so better to hold your position with stop around 80 for a target of 500.

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