MTECHTIPS BANKNIFTY FUT intraday trading analysis 26-05-2016

MTECHTIPS BANKNIFTY FUT intraday trading analysis 26-05-2016
MTECHTIPS Banknifty future today closed at 17007 with gain of whooping 520 points. Banknifty above 16480 given strong short covering rally and heading towards 17500 zone. But for tomorrow my outlook bearish and strategy remain sell on rise. For intraday, banknifty future resistances are 17100 and 17200 while on downside 16885 and 16600 are support zones. Future traders can go short around 17100-17200 zone with stop loss for downside corrective tgts. Option traders watch banknifty 16500 put options of June expiry for intraday trading.
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