MTECHTIPS BANKNIFTY FUT intraday trading analysis 30-05-2016

MTECHTIPS BANKNIFTY FUT intraday trading analysis 30-05-2016
MTECHTIPS Banknifty future this week closed with heavy gains at 17495. This week from lows we saw 1200 points rally in banknifty future. Banknifty future above 16480 trigged reversal buy signal. On upside banknifty achieved its first tgt 17480 and now if sustain above it then expect 18100 levels in upcoming weeks. For next week, banknifty weekly chart showing resistances around 17650 and 18150. While on downside 17000 and 16800 are strong support zones. Future traders above 17480 can expect 18100-18150 as tgt for next week. Option traders exit all put options and buy banknifty 17500 call options on decline for big gains in next week.
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