MTECHTIPS:INTRADAY TRADING ANALYSIS FOR BANKNIFTY FUT
Banknifty dec expiry future today closed at 12411 with loss of 63 points or 0.50%.today bank nifty dec future with gap p opening set on rally and panic short covering hit high near 11625 but as domestic conditions and global events turning down we seen profit booking and bank nifty hit lows near 21310.today total 315 points intraday volatility which is 2.5% price range and 9% drop in open interest !!may be new shorts added in banknifty as we given in yesterdays bank nifty tips,bank nifty hit stoploss on false trap move but still trending towards our given targets.from currency level expect 400-600 points drop in bank nifty.below 12380 selling become intense and change of trend happen on chart.option traders keep buying 12500pe on decline with stoploss.
bank nifty future tips
stay short side and follow sell on rise strategy here
fresh entry zone now 12450-12530 while
keep stoploss above 12655 and expect 12200-12050 in intraday.