MTECHTIPS BANKNIFTY FUT intraday trading analysis 16-06-2016

MTECHTIPS BANKNIFTY FUT intraday trading analysis 16-06-2016

MTECHTIPS Banknifty future today closed at 17859 with strong gains. Banknifty as expected given strong reversal short covering rally above 17500 and hit my target 17855. For tomorrow, banknifty future outlook remain bullish and above 17750 trader can keep buy on dips view for targets 18000 to 18100. If this time banknifty fails to breakout above 18100 then expect deep correction or downside up to 17200. Future traders can buy banknifty future around 17750 with stoploss for target 18000 and 18100. Option traders use banknifty 18000 call options as buy and accumulate with stoploss.
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