banknifty correction-watch 17040 intraday support for reversal

free bank nifty future and option tips for 4 dec. 2015

free bank nifty future and option tips for 4 dec. 2015

Bank nifty future today closed at 17170 with the loss of 111 points. In intraday bank nifty today high around 17314 while intraday low was at 17130. Total almost 200 points intraday range was seen and bank nifty closed below 17200 level.

For tomorrow 17040 is intraday support and important level to watch for reversal move. On the upside, 17200 and 17450 will be strong resistances. Closing below 17040 means another blow to market and below it bank nifty might test 16700 level.

Options side, traders can follow buy on decline strategy for bank nifty 17200 call options with stop loss with medium term view.

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