19th June 2024 | Nifty is Near Breakout, Bank Nifty Shows Power

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NIFTY Prediction

Nifty 50 formed a small negative candle at the highs on the daily chart with minor lower shadow. Nifty 50 saw a gradual upside momentum with range bound action on June 18 and closed the day higher by 92 points. “Following a strong start, the Nifty remained within a range as the index formed another day of muted movement on the daily chart. For the last few days, Nifty has been moving sideways on an intraday basis, but eventually, it has moved up above 23,500. The trend looks positive from here, with support placed at 23,300," A fall below 23,300 might induce selling pressure, while on the higher end, the index might move towards 23,800.

BANK NIFTY Prediction

Bank Nifty index rallied 439 points, or 0.88%, to close at 50,441 on Tuesday, forming a bullish candlestick pattern with a lower shadow on the daily charts. “The Bank Nifty index finally broke out of the resistance mark of 50,200 and managed to close above it. The bullish momentum is likely to continue, potentially driving the index higher towards the 51,000 mark," The undertone remains extremely bullish, and a buy approach is recommended with strong support at the 49,700 mark

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

Sr.	Stock Name	Symbol	Links	% Chg	Price	Volume
1	Can Fin Homes Limited	CANFINHOME	P&F | F.A	6.51%	889.25	4,784,271
2	Hindustan Aeronautics Ltd	HAL	P&F | F.A	6.4%	5533.45	9,934,132
3	Idfc Limited	IDFC	P&F | F.A	5.21%	120.86	14,238,682
4	IDFC First Bank Ltd	IDFCFIRSTB	P&F | F.A	4.44%	81.46	73,328,337
5	Gmr Infrastructure Limited	GMRINFRA	P&F | F.A	4.17%	97.84	115,730,997

 

 

 

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