20 June 2018

BANKNIFTY & YESBANK OPTION CALLS FOR 21 JUN 2018

"BUY BANKNIFTY 28 JUN 26700 CALL @ 160 TGT 190/240 SL 80"
"BUY YESBANK 340 CALL @ 4 TGT 5.8/7.7"
Bulls are back on the driver seat. In Wednesday’s trading session nifty snapped two-day losing streak led by gains Reliance Industries and banking stocks.  The nifty future has started from 10725 made a high of 10796 and low of 10725 & finally closed at 10788 up by 68 points.
Nifty has held its short-term support level at 20-DMA. Apart from this, it has ensured that there is no breakdown on the daily charts and the index continued to remain in a broad symmetrical triangle pattern. Going ahead, we expect this Nifty pullback to continue. On the upside, the index is likely to face resistance in the 10825 -10875 zone. Any decisive breakout above it will give Nifty further strength towards 10925  -10975 levels. On the downside, an intraday support is placed around the 10700 level and its violation will cause weakness towards 10675 and 10650 levels.
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Resistance: 10825, 10870, 10900
Support: 10700, 10675, 10650

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