Nifty and Bank Nifty Prediction for the week 16 Jun’25 to 20 Jun’25 by BL GURU

The Indian markets fell all through last week. Israel’s attack on Iran triggered a wide gap-down open on Friday. However, the benchmark indices managed to bounce back well from their lows on Friday recovering some of the loss. Last week’s fall has not changed the structure on the charts. So, we continue to retain our broader bullish view. The expected rise is going to get delayed because of last week’s fall.

There is a possibility of some more fall from here on the back of the Israel-Iran conflict. But that is going to give us a very good buying opportunity from a long-term perspective.

Nifty has supports at 24,600 and 24,450. If nifty 50 sustains above these supports, a rise to 25,000 can happen in a week or two. In case the index declines below 24,450, it can fall to 24,000 first and then a fresh rise can happen.

Nifty Bank index has room to test 54,500 or 53,900. After this fall the nifty bank index can reverse higher again. Resistance is around 56,000 which has to be broken to bring back the earlier bullish view of seeing 58,000 on the upside again.

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Published on June 14, 2025