Thursday, June 17, 2021

BankNifty Outlook 18 June 21

  

BankNifty Outlook


Key  Data

The Bank Nifty opened gap down at 34,619.80 and faced weakness but took support at around 34,450. It underperformed the broader markets and closed with losses of 398.10 points at 34,605.40.

Options data indicated that the BankNifty could see an immediate trading range of 34000 to 35,000. Maximum Put open interest was seen at 34000 strike, while maximum Call open interest was seen at 35000 strike.


KSCL | Stock Analysis And Price Outlook



Chart & Outlook



It formed a bearish candle but a Doji pattern on the daily scale and witnessed selling pressure for the second consecutive session. Until the Banknifty is trading above 33754 there is no immediate big correction will be seen and there is a possibility of trend reversal . But currently avoid long position until we see a clear trend reversal.

Bank Nifty has to hold near to 34,500 to move towards 35,000 and 35,250 levels, while on the downside, support is seen at 34,250 and 34,000 levels.





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Disclaimer- The information on this blog are based on my personal opinion and experience, it should not be considered professional financial investment advice and in no way it should be considered as a tip. We does not take any compensation of any kind whatsoever from any reader, user and company that are mention on this website. We are not SEBI registered financial advisor or analyst.

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