#Nifty
For 16-06-2020
Support for Nifty comes at 9789-9700-9650
Resistance for Nifty comes at 9873-9941-10000
BankNifty
Support for BankNifty comes at 19740-19580-19420
Resistance for BankNifty comes at 20050-20200-20450
Nifty was expected to revisit 9700 and today's low is 9726. Clearly said be cautious on longs and keep a SL of 9900 if long. And what happened on break of 9900 you just saw.
For tomorrow all rallies to 9850-9880 can be used for sell with a SL of 9950 for target of 9800-9726. Fresh sell can be considered on break of 9780 for target of 9700-9650 with SL of 9830.
Tomorrow can be a range Bound day in between 9725-9850.
For Nifty 9500 is strong support zone.
BankNifty below 21000 achieved the first target of 20300 and even extreme target of 19800 by making a low of 19740. That is why I told you to avoid Banknifty.
For tomorrow all rallies in Banknifty to 20050-20200 can be used for sell with a SL of 20400 for targets of 19800.
For Banknifty 19800-19500 is strong support zone. In this zone we can take risk and buy it with a SL of 19400.
Below 19400 it can slip to 19000-18700.
Disclosure: I don't have any position in Nifty and Banknifty futures.
For 16-06-2020
Support for Nifty comes at 9789-9700-9650
Resistance for Nifty comes at 9873-9941-10000
BankNifty
Support for BankNifty comes at 19740-19580-19420
Resistance for BankNifty comes at 20050-20200-20450
Nifty was expected to revisit 9700 and today's low is 9726. Clearly said be cautious on longs and keep a SL of 9900 if long. And what happened on break of 9900 you just saw.
For tomorrow all rallies to 9850-9880 can be used for sell with a SL of 9950 for target of 9800-9726. Fresh sell can be considered on break of 9780 for target of 9700-9650 with SL of 9830.
Tomorrow can be a range Bound day in between 9725-9850.
For Nifty 9500 is strong support zone.
BankNifty below 21000 achieved the first target of 20300 and even extreme target of 19800 by making a low of 19740. That is why I told you to avoid Banknifty.
For tomorrow all rallies in Banknifty to 20050-20200 can be used for sell with a SL of 20400 for targets of 19800.
For Banknifty 19800-19500 is strong support zone. In this zone we can take risk and buy it with a SL of 19400.
Below 19400 it can slip to 19000-18700.
Disclosure: I don't have any position in Nifty and Banknifty futures.
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