Banknifty future this week closed with loss. This was first weekly loss for this index future after last 3 weeks gains.
For next week, banknifty future outlook remain bearish and below 16500 traders keep sell on rise view.
After breakdown below 16500, we saw banknifty hit low around 16260.
My downside tgts are 15900 and then 14900. Future traders with stop loss above 16600 keep sell on rise view and keep tgt at 15900 and 14900.
Option traders can use banknifty 16500 put options to buy and accumulate.