14th June 2024 | Nifty waiting for Breakout Expect Volatile

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NIFTY Prediction

On the day of monthly expiry, the Nifty faced ups and downs before finally ending unchanged. Currently, there seems to be a somewhat negative sentiment prevailing. Positioned at the lower end, there is crucial support at 21900; if the index holds above this level, there is a chance of seeing a recovery. However, dropping below 21900 could potentially push the index towards 21850.

BANK NIFTY Prediction

The bulls in BankNifty demonstrated their power by protecting the important support level of 46100, leading to a close above it. This indicates strong bullish activity at lower levels. However, the index is currently facing notable resistance at 50,000, and breaking decisively above this level is expected to prompt more short-covering, potentially driving the index towards the 48000 level. To confirm that the index has formed a bottom, there needs to be consistent trading above 50000 for several sessions.

Breakout Stock for Trading (Future, Option & Swing Trading) with Last Day Breakout

 

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