December 16, 2017

MTECHTIPS

MTECHTIPS INTRADAY TRADING ANALYSIS FOR BANKNIFTY

Bank nifty spot index on friday closed at 12363 with loss.on chart bank nifty short term trend and momentum both bullish as trading above all short term averages.
on chart bank nifty weekly support at 12262 and then month support at 11825 while in last 3 month support level is 11391.above this for short term traders strategy will be buy on dips on buy near supports.Bank nifty daily indicators showing signs of correction and coming down from overbought zone.short side suggested below 12265 only with strict stoploss.on downside 11800 to 11500 will be correction targets but below 12260.

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