Bank Nifty future options outlook for 17 November 2016
Bank Nifty future today closed at 19140 with loss. Bank nifty after achieving target of 20050 now correcting toward support 19000 and is in downtrend.
Bank nifty future below 19460 remain weak but outlook still bullish and bottoming out process in action. For tomorrow, banknifty intraday support zones are 19000 and 18800 and fresh buying zones. On upside 19460 and 19800 are target zones as well as strong resistances.
Risky traders can use 18800-19000 levels to buy and accumulate with stop loss for targets 19460 and then 20050 in short terms. Bank nifty option traders can use next or far month OTM call options for buy and accumulate with stop loss.
For long term investors, banknifty at 18800 is best buy level with minimum price target 20800.