August 19, 2017

MTECHTIPS

MTECHTIPS:INTRADAY TRADING ANALYSIS FOR BANKNIFTY FUT

Bank nifty dec expiry future today closed at 12491 with loss of 24 points or 0.19%.bank nifty future with gap down opening remain under pressure all the day with 1.65% shed in open interest.traders booking profits and some what in pause mode ahead of rbi policy.bank nifty spot today closed at 12427 with loss.
bank nifty today high was 12532 and low was 12464.total 68 points range bound movement in bank nifty future.for tomorrow trend is still bullish and currently bank nifty future going though correction and consolidation.for tomorrow use 12420- 12460 range for buying with stoploss of 12350 and expect 12550 12650 on upside in next 1-3 sessions.below 12280 bank nifty future trend and momentum both turn on bear side.on option side ,buy bank nifty 12500 call option of jan series for big gains but on declines.

stay long or buy in range of 12420-12460 with
stoploss below 12350 and expect 12550 to 12650 as targets
on upside in next 1-3 sessions.

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Mtech

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