MTECHTIPS BANKNIFTY FUT intraday trading analysis 12-05-2016

MTECHTIPS BANKNIFTY FUT intraday trading analysis 12-05-2016
MTECHTIPS Banknifty future today closed at 16786 with loss of 68 points. Banknifty future with gap down opening given almost 350 points profit for short positions and also 17k put option given big jackpot return in btst call!! For tomorrow 12th may 2016, banknifty future outlook remain weak. Below 16500 expect sharp selloff in banknifty index. Till then correction and consolidation phase.Banknifty future intraday resistance levels are 16880 and 17100 while on downside support zones are 16680 and 16555.Watch banknifty 16500 put options for intraday moves.
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