Nifty & Bank Nifty Prediction: 24th Jun’24 – 28th Jun’24 (BL GURU Insights)

Get ready for the week ahead!

BL GURU provides you with in-depth insights and predictions for the Nifty and Bank Nifty indices from 24th June 2024 to 28th June 2024.

Nifty Predictions:

Overall Outlook: The Nifty is expected to witness moderate volatility this week. While the overall trend remains bullish, investors should be cautious due to potential headwinds from global events and domestic macroeconomic factors.
Key Levels:
Support: 19,000, 18,800
Resistance: 19,500, 19,700
Trading Strategy:
Buy: On dips towards the support level of 19,000, consider buying with a stop-loss at 18,800.
Sell: If the index breaks through the resistance level of 19,700, a short position can be considered with a stop-loss at 19,900.

Bank Nifty Predictions:

Overall Outlook: The Bank Nifty is likely to perform better than the Nifty this week, driven by strong earnings from banking institutions and continued positive sentiment towards the sector.
Key Levels:
Support: 44,000, 43,500
Resistance: 45,500, 46,000
Trading Strategy:
Buy: On dips towards the support level of 44,000, consider buying with a stop-loss at 43,500.
Sell: If the index breaks through the resistance level of 46,000, a short position can be considered with a stop-loss at 46,500.

Key Factors to Watch:

Global Market Sentiment: Keep an eye on global markets for cues on investor sentiment and potential spillover effects.
Domestic Economic Data: Domestic economic data releases, such as inflation, industrial production, and retail sales, will impact investor sentiment and market direction.
Earnings Season: The ongoing earnings season will continue to provide insights into corporate performance and future growth prospects.

Disclaimer:

This analysis is based on technical and fundamental factors, and market predictions can be volatile.
This information is for informational purposes only and does not constitute investment advice.
Always conduct your own research and consult with a qualified financial advisor before making any investment decisions.

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