MTECHTIPS:INTRADAY TRADING ANALYSIS FOR BANKNIFTY FUT
Banknifty dec expiry future today closed at 12519 with loss of 31 points or 0.25%.today with gap up opening we seen highs near 12619 while todays low was 12476.total 144 points intraday volatility and 5% drop in open interest.bank nifty spot index closed at 12510. here bank nifty once again achieved 12600 level.on chart look like going through consolidation after breakout.bank nifty future trend and momentum both bullish and above 12380 support level traders must follow buy on dips strategy. on upside 12600 to 12850 are target level.if slips below 12380 then exit from longs and wait for sell signal. option traders may go for 12500ce dec for intraday purpose only and on decline.
Bank nifty future stay long or buy on dips in bank nifty dec future
with stoploss just below 12380 and expect 12600 to 12850
till this expiry.stoploss is strict
option traders may buy 12500ce dec for intraday.