Index levels & Views for 17 June

Nifty Spot closed at 11823

Resistance at 11860, 11885

Support at 11770, 11730

BankNifty Spot closed at 30614

Resistance at 30745, 30870

Support at 30330, 30250

View: - A sell on rise market for now. We have seen a breakdown on Friday closing hour in markets. Based on where markets closed, BankNifty is the weaker one in comparison to Nifty. 11860 should act as resistance on Nifty on any rebound.

retest / break of lows from 7th June is expected on Nifty, and its already broken on BankNifty. Expecting BN to test 30120 during the week.

On any change of view, i will update accordingly post opening.