Nifty and bank nifty index 14/06/22
Charts and index daily #106
Nifty 50 current price – 15774.40
Nifty future current price – 15766.25
Niftyfut Outlook:
Niftyfut has moved from 16450 (20th Dec 2021) to 18363.50 ( 18th Jan 2022). On 13th Jun 2022, it closed at 15766.25 30min 20EMA – 16280
If today 14th Jun, it opens or moves above 15940 it can move further until 16170.00
if Nifty closes above 16690 and Banknifty, Nifty IT index starts to perform then nifty can reach 17062.40 in short term. ( Due to correction in NASDAQ it looks like the IT sector will take time to start up move).
Banknifty fall was due to uncertainty in a rate hike, it was un nessacary to give too much importance to the fed, RBI rate hike. Banknifty is already in the same range for 28 months with huge volatility in HDFCBANK share price. BANKNIFTY price was still the same as in JAN 2020 in +- few 2 to 3 percentage difference.
Soon Banknifty will start to perform, So Nifty will start the same upward move with support from Reliance and IT. So the downward move from this level was very less.
Niftyfut Support: 15722 - 15666 - 15503 - 15323 - 14953.
Niftyfut Resistance: 15935 - 16163 - 16362 -16486 - 16562.
Niftyfut Range: 15975 - 16700 for this week (13th Jun to 17th Jun 2022). Today nifty broken this range, hope in 4 days it will close above 16000.
Bank nifty current price – 33405.85
BankNifty Fut current price – 33431.40
BankNifty Fut Outlook:
Banknifty future has moved from 34150 (20th Dec 2021) to 38965.65 (18th Jan 2022). On 13th Jun 2022, it closed below 200 EMA - 35872.00
If today 14th Jun - until Banknifty - opens above or moves above a resistance level (20dema) - 34920, do not go long in BANKNIFTY.
BankNifty Fut Support: 33250 - 32950 - 32650 - 32251 - 31817.
BankNifty Fut Resistance: 33514 - 33897 - 34280 - 34513 - 34930.
BankNifty Fut Range: 33500 - 35900 for this week (13th Jun to 17th Jun 2022). Today bank nifty broken this range, hope in 4 days it will close above 34930. So BANKNIFTY will give support to NIFTY and Reliance, IT also can start to give support then the Market may bottom out at these levels.
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