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Published on 12-06-2026 10:55 am

HIGH RISK HIGH VOLATILE: BUY BANK NIFTY 56000 CALL JUNE ABOVE 868.75 SL BELOW 960 TGT 905-960-1045. 30 JUNE

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Published on 12-06-2026 10:32 am

Comments:

Nifty weekly contract has the highest open interest at 24000 CE and 22000 PE while monthly contracts have the highest open interest at 24000 CE and 23000 PE. The highest OI addition was seen at 23600 CE and 22300 PE in weekly and at 23200 CE and 23200 PE in monthly contracts. FIIs increased their future index long holdings by 5.71%, decreased future index shorts by 1.03% and in index options, 3.11% increase in Call longs, 6.97% increase in Call short, 4.10% increase in Put longs and 14.51% increase in Put shorts.

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Published on 12-06-2026 10:31 am

Nifty Outlook

For the second consecutive day, upswing attempts got turned lower from the vicinity of 10 day SMA. The drop thereof eased after testing 8th June’s low, suggesting that bears are not that dominant either. Directional trades appear to be waiting for a breach of the 23400-23070 range, with 23500-23800 and 22800 seen as the initial upside and downside objectives, respectively. That said, we prefer to see 23200 as the key pivot for the day

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Published on 12-06-2026 10:28 am

Intraday Rational :

• Trend - Classic breakout and retest from two months falling trend line signifies resumption of uptrend

• Levels - Buy around yesterday highs

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Published on 12-06-2026 10:27 am

Technical Outlook :

• BankNifty after initial decline recovered till previous sessions high and gave most of the gains in second half to end on a flat note. The daily price action resulted into bull candle with upper shadow indicating profit booking after recent upmove.

• Today, Indes is likely to witness gap up opening tracking optimism around deescalation of geopolitical conflict Key point to highlight is that with two days breather, Index is retesting its falling trendline breakout area and forming higher base above 50-day EMA indicating healthy consolidation. Going forward we expect Index to resolve out of two sessions identical highs around 55600 and head towards target of 56,500 in coming weeks, being previous swing high and 80% retracement of recent decline (57456- 52783).

• Index has witnessed slower pace of retracement. Where in it is important to note that over five weeks it has relatively outperformed Nifty, as we have seen Nifty breaching May lows but Banknifty defended May low and now forming higher base indicating resilience. This makes us believe to revise support upward towards 53800 levels being 61.8% retracement of current upmove.

• Nifty PSU Bank Index is retesting four months falling trendline breakout area. Structurally Index over past four weeks forming higher base above 52-week EMA. Going ahead we expect Index to regain momentum and head towards 8800 levels being 80% retracement of current decline(9095-7800)

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