#Nifty
For 17-06-2020
Support for Nifty comes at 9860-9800-9725
Resistance for Nifty comes at 9975-10046-10100
BankNifty
Support for BankNifty comes at 20100-19900-19740
Resistance for BankNifty comes at 20342-20542-20678
Nifty as updated in the morning sell near 10000 with SL of 10070 and from day open of 10014 it went all the way to 9728, however I covered at 9900. Today's big down move was due to China tension which is never predictable. But below 9780 Nifty was a fresh sell for 9700 and we got 9728. Not bad.
For tomorrow SL for all long positions is 9860. Below 9860 Nifty can be sell again for 9800-9750 with a SL of 9920. Till 10070 holding on upside all rallies to 10000 can be used to sell with SL of 10070. On down side first support comes at 9725 and then 9600-9500.
BankNifty superb day first it achieved my down side target of 19800 almost 700 points from day open, however I suggested to cover at 20200. But later half was fantastic BankNifty suggested to buy around 19500 and after making a low of 19507 it went all the way to 20342. Good clean 800 points.
For tomorrow again volatility can be there as supreme court case regarding loan moratorium is due. So all longs should be hold with SL of 20100 and on dips to 19800-19500 we can buy again. BankNifty can be sell only on rallies to 20500 with SL of 20800 but I won't suggest selling as more chance of SL triggering. Look to buy on dips with strict SL of 19400.
Disclosure: I don't have any position in Nifty and Banknifty futures.
For 17-06-2020
Support for Nifty comes at 9860-9800-9725
Resistance for Nifty comes at 9975-10046-10100
BankNifty
Support for BankNifty comes at 20100-19900-19740
Resistance for BankNifty comes at 20342-20542-20678
Nifty as updated in the morning sell near 10000 with SL of 10070 and from day open of 10014 it went all the way to 9728, however I covered at 9900. Today's big down move was due to China tension which is never predictable. But below 9780 Nifty was a fresh sell for 9700 and we got 9728. Not bad.
For tomorrow SL for all long positions is 9860. Below 9860 Nifty can be sell again for 9800-9750 with a SL of 9920. Till 10070 holding on upside all rallies to 10000 can be used to sell with SL of 10070. On down side first support comes at 9725 and then 9600-9500.
BankNifty superb day first it achieved my down side target of 19800 almost 700 points from day open, however I suggested to cover at 20200. But later half was fantastic BankNifty suggested to buy around 19500 and after making a low of 19507 it went all the way to 20342. Good clean 800 points.
For tomorrow again volatility can be there as supreme court case regarding loan moratorium is due. So all longs should be hold with SL of 20100 and on dips to 19800-19500 we can buy again. BankNifty can be sell only on rallies to 20500 with SL of 20800 but I won't suggest selling as more chance of SL triggering. Look to buy on dips with strict SL of 19400.
Disclosure: I don't have any position in Nifty and Banknifty futures.
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