Nifty Bank Index seems to be fighting to get a strong increase in follow -up. After opening the week with a strong note, the index now faces resistance around 56,000. It is currently quoted at 55,905, marginally decreased by 0.07 percent. The advance/decrease relationship is at 7: 5. This is positive for now.
Nifty Bank Index Outlok
Intradia support for the Nifty Bank index (55,905) is found in the region 55,800-55,750. While the index remains above this support, bias will remain positive. There are good Chans to see an increase in 56,200 and only 56,500 in the next sessions.
The index has to decrease below 55,750 to be under pressure for more fall. A break below 55,750 can drag the index to 55,500-55,450.
Nifty Bank Futures
Nifty Bank June Futures (55,994) fell 0.21 percent that the contract has support to 55,900-55,850. If the contract manages to keep above this support, an increase in 56,200-56,400 is possible.
In the event that the contract is broken below 55,850, it can fall to 55,700-55,650 dead the day.
Our preference will be to see the contract that maintains above 55,850 and ascend to want the day.
Commercial strategy
Merchants can spend for a long time at 55,940 and 55,880. Keep the Stop-Loss at 55,820. Follow the stop-loss up to 55,980 as soon as the contract rises to 56,040. Move the stop-loss up to 56,060 when the contract touches 56,120. Leave the long positions to 56,180.