MTECHTIPS BANKNIFTY FUT intrday trading analysis 25-05-2015

MTECHTIPS BANKNIFTY FUT intrday trading analysis 25-05-2015
MTECHTIPS banknifty spot on last trading session closed at 18433 with loss of 80 points. on daily chart banknifty closed at its 3 month average and trading above 1 month average with strong bullish recovery patterns on prices as well as daily chart indicators.banknifty daily chart indicators, MACD is with bullish divergence and above zero. RSI is at above 50 with bullish divergence. and CCI is heading towards +100 with bullish divergence.banknifty spot this week closed with gains. this was second weekly gains for this index. in these 2 weeks banknifty rallied from lows of 17600 to high of 18600+. total 1000 points rally was seen in these 2 weeks period. banknifty weekly high was at 18619 while low was at 18200. total 400 points range and positive closing.for next week, banknifty future traders keep buy and accumulate strategy for this index if sustain above 18350. keep price targets at 18980 and above. banknifty options traders can use 18300-18400 call options of june expiry for buying and accumulation. keep strict stop loss for every trades as Greece and fed interest rate hike news flow can cause volatility as well as profit booking dips.
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