Bank Nifty Prediction with Way to Trade for Today

Avoid Aggresive strategy as USA inflation need to cool down as more rate hikes means more pain is in offing.

Nifty Spot View: 17/06/2022

Cmp: 15360.60

Support & Downside Range: 15295—15164--14973

Resistance & Upside Range: 15550—15678--15892

Short Term Trend Reversal Level:--  16794

Trading View: Fall from 16794 till yesterday's low 15335 is a clean 5 wave fall now need to see this wave 5 getting extended or not if not then 15295 should hold now for next 3-5 session till we do not touch upside minimum 15892 zone, whereas break and sustain below 15295 we may immediate open for 15164—14973 levels, today in USA dowjones expiry is there and most likely on Monday US markets are closed and even dowjones is in oversold zone so if any expiry related bounce back we got in usa then most likely next week nifty may head towards 15892 levels.

BankNifty Spot View For: 17/06/2022

Cmp: 32617

Support & Downside Range: 32500—32155--32000

Resistance & Upside Range: 33050—33360--33880

Short Term Trend Reversal Level: -- 

Trading View: from the recent high of 36100 bank index has fall in a clean 5 waves decline and if the move gets extended then it can fall till 32155—32000 as well but the hourly chart breath are oversold so if bank index able to hold 32500 on closing basis for next 2 days then there is a good chance that we may see some bounce till 33880 in next 3-5 session but if selling pressure remains same and we get close below 32000 levels then we may immediate open for 29900 levels as next immediate downside targets.

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