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Bank Nifty Target for Tomorrow 30th June 2017

Bank Nifty Today June 29th 2017: Bank Nifty opened the day by showing a positive tick of 77 points and continue to gain further to go past the 13-day and 5-day moving average to hit intraday high at 23476 and later selling pressure erased the gains to make the bank nifty drift in the red and finally managed to close in red by losing 8 points. 6 out 12 bank nifty stocks closed in the red.

Bank Nifty 29th June 2017 Intraday Movement:

Opening: 23,312.40 High: 23,476.00 Low: 23,124.35, Closing: 23,227.30

Bank Nifty Spot: 23,227.30(-8.55)

Bank Nifty 27 JUL 2017 Expiry Futures: 23,231.00(-24.30)

Support: 23,000 and 22,900

Resistance: 23,500 and 23,900

Bank Nifty Forecast/Outlook for 30th June 2017: Bank Nifty forms bearish candle after seeing a sell of near the higher level. As we expect a bounce back can be used to go short which holds true today as we created short positions near 23,400 levels. We hold our suggestion to use any bounce back to sell the bank nifty for the target of 22,900 with a stop around 23,500.Bank nifty as a strong support near 22,900 which is also its 50-Day EMA.

Bank Nifty’s Negative Signal. Bearish Pattern and well below key moving averages.

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 30th June 2017: Bank Nifty can move between 23,000 -23,500 levels.

Bank Nifty Long Term up trend reversal point: Closing below 22500 Levels.

Click here to view the Gold Trend

Bank Nifty 06 Jul 2017 Expiry Strategy:

  1. Position Created on 29-Jun-2017: Buy One lot 06-Jul-2017 Expiry 23,500 put @ 320 and also sell two lot 06-Jul-2017 Expiry 22,900 Put @ 50. Total Premium inflow: Rs 220. Hold for a target of 500 with a stop around Rs. 50.

Click here to view nifty target for 30th June 2017

Visit our website on 30th June 2017 8.30 PM to get the Bank nifty view for 3rd July 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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