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Below are View on Bank Nifty 07 June 2022 By Kunal Shah, Senior Technical & Derivative Analyst at LKP Securities

"The Nifty Bears took control once again leading to a fall in the index towards the crucial support zone 16,400-16,350. The volatility is likely to continue ahead of the RBI policy and a clear-cut direction will be visible post the outcome. The upside resistance is placed at the 16,600-16,800 zone where heavy call writing is visible

The Bank Nifty index continues to witness selling pressure ahead of the RBI policy and ends on a negative note. The index is stuck in a broad range between 34,500-36,000 levels and a break on either side will lead to further trending action. The undertone remains weak as long as it stays below the level of 36,000 where the highest open interest is built up on the call side"

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