Date 17.06.2026
NIFTY OUTLOOK: 23989.15 FII -749.18 cr DII 0.06 cr
As discussed yesterday market behaviour remained on the expected lines during the day, as bullish sentiments take the nifty rally upto our target of 24010 i.e. made a day High of 24002.6 on decisively breakout of 23931.
Further a small bullish candle appeared on daily chart of nifty suggest slow but continuation of buying pressure hence if nifty continue with its upward bias then it may rally upto 24133 to 24205 on decisively breakout of 24061. If more demand will accentuate then it may have chances to test 24277.
However for down side 23917 to 23845 may act as immediate supports for the nifty, if break through below these supports and sustain may drift down the nifty upto 23773 to 23701.
Bank Nifty OUTLOOK:
SPOT: 57297.15 Pcr: 1.05 Max Ce OI on 60000 & Max Pe OI on 54000
On June 16, 2026, a Bank Nifty index was closed at 57297.15 (98.35) (0.17%). The total movement in the index was 323.45 during the trading session. The index made a high of 57399.70 and a low of 57076.25.
Technical view:
Important support and resistance level of Bank nifty are 55980 and 58480 respectively.
Intraday Support and resistance of Bank nifty are 57200 and 57390 respectively.
The Relative Strength Index (RSI) for the Nifty Bank index at 67.7. Below 30 is considered oversold and above 70 overbought.
Bank nifty Day SMA Analysis
Bank nifty is trading above 7 out of 8 SMA’s (5, 10, 20, 30, 50, 100, 200 Day).
Bank nifty is trading below 1 out of 8 SMA’s (150 Day).
Two Bullish active Candlestick Pattern was identified in bank nifty on daily chart.
- Long Legged Doji Uptrend
- Dragonfly Doji
Important Pivot Point Levels for Today
Nifty
| S3 | S2 | S1 | Pivot | R1 | R2 | R3 |
| 23802.97 | 23845.58 | 23917.37 | 23959.98 | 24031.77 | 24074.38 | 24146.17 |
Bank Nifty
| S3 | S2 | S1 | Pivot | R1 | R2 | R3 |
| 56792.25 | 56934.25 | 57115.7 | 57257.7 | 57439.15 | 57581.15 | 57762.6 |
By Ashok Bhandari (RA)
SEBI Regd. No. INH00019549
Leave A Comment