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Bank Nifty Target for Tomorrow 3rd July 2017

Bank Nifty Today June 30th 2017: Bank Nifty opened the day by losing 90 points and continue to lose further to go down to 22,996.40 by losing 231 points and then bulls managed to recover 258 points from the lows to move in the green. Finally bank nifty managed to close 16 points in the red. 6 out 12 bank nifty stocks closed in the red.

Bank Nifty 30th June 2017 Intraday Movement:

Opening: 23,137.25 High: 23,254.10 Low: 22,996.40, Closing: 23,221.20

Bank Nifty Spot: 23,221.20(-16.10)

Bank Nifty 27 Jul 2017 Expiry Futures: 23,201.20(-29.80)

Support: 23,000 and 22,900

Resistance: 23,500 and 23,900

Bank Nifty Forecast/Outlook for 3rd July 2017: Bank Nifty forms a bullish hammer and able to hold the 23,000 levels which acts as a key support. Bank nifty was able to recovery the loss and close flat, but the weekly and monthly chart suggest more downside. On Monthly charts bank nifty forms a spinning top and also first monthly negative closing after 5 months.in addition bank nifty futures drift to trade in the discount. So 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. Future trading in the discount and also trading well below key moving averages.

Bank Nifty’s Positive Signal:  Long term UP trend

Bank Nifty View for Monday: Sideways with negative bias.

Bank Nifty Short Term trend: UP

Bank Nifty Target for 3rd July 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 lots 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. Current Profit :14.9 Points (i.e. Total profit of Rs.596)

Click here to view nifty target for 3rd July 2017

Visit our website on 3rd July 2017 8.30 PM to get the Bank nifty view for 4th 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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