August 18, 2017

MTECHTIPS

MTECHTIPS INTRADAY TRADING ANALYSIS FOR BANKNIFTY

Banknifty dec expiry fut today closed at 12384 with 33 points loss down.on intraday chart bank nifty future formed rounding top which suggest upcoming weakness.today bank nifty dec future with gap up opening same like nifty hit high near 12490 while low was 12360.total 130 points intraday volatility with profit booking as open interest shed by 1.11%. on hourly chart bank nifty slipped below major 2 average and now heading towards support of 12085.12220 is small support in path of fall there may be see some bounce back. option traders,stay long in bank nifty 12500pe dec expiry from intraday as well as positional view.

Banknifty stay short in bank nifty or short in between 12460 to 12520 for now
keep stoploss just above 12610 and expect 12220-12085 in
intraday to till this week end.

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