August 20, 2017

MTECHTIPS

MTECHTIPS:INTRADAY TRADING ANALYSIS FOR BANKNIFTY

Bank nifty dec future today closed at 12176 with 25 points loss or 0.2% drop.today with gap down opening on profit booking bank nifty future hit low of 11805 while day hig was 12220.total 450 points intraday volatility with 4.49% drop in open interest on profit booking mostly. on intraday chart some indicators now clearly showing sell sign and some still in overbought zone which anyway going to trigger profit booking in upcoming time. for tomorrow below 12100 fall will get momentum and may show 11800 or below.today 11805 low was look like freak trade in opening due to less market depth. option traders can buy 12000pe from very short term view with strict stoploss.bank nifty slowly will form rounding top at current situation?

Bank nifty future stay short in bank nifty dec future or go short below 12100
for 200-300 points downside but with strict stoploss
option traders can buy bank nifty 12000PE with very
short term view or for intraday purpose.

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Mtech

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