Bank Nifty prediction today – September 15, 2023: Bullish. Go long now and accumulate on dips
Bank Nifty September futures (46,200)
The Bank Nifty index is trading higher. The index has risen above the key level of 46,000, and is holding well above that. This is a positive. The advances/ declines ratio is at 6:6 and indicates a mixed outlook. Bandhan Bank has surged about 2.9 per cent and is the outperformer within the index.
The Bank Nifty index will have strong support in the 46,000-45,900 region. As long as it trades above this support zone, the outlook is bullish. The index can rise to 46,400 in the coming days.
It will come under pressure if it falls below 45,900. In that case, 45,750 can be seen on the downside. But that looks less likely as fresh buyers can come into the market at around 46,000 and limit the downside.
Bank Nifty Futures
The Bank Nifty September futures (46,200) is up 0.2 per cent. It can get support in the 46,100-46,000 region. The outlook is bullish for a rise to 46,500.
The outlook will turn negative only if the contract declines below 46,000. In that case a fall to 45,900 is possible.
Traders can go long now and at 46,100. Keep the stop-loss at 45,980. Trail the stop-loss up to 46,250 as soon as the contract moves up to 46,310. Move the stop-loss further up to 46,360 when the contract touches 46,420. Exit the long positions at 46,480.
Supports: 46,100, 46,000
Resistances: 46,400, 46,550
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