Free BANK Nifty future option trading tips for 3 November 2016
Bank Nifty future today closed at 19322 with loss. As expected banknifty future given breakdown below 19460 and heading towards swing target of 19000. Bank Nifty future today hit low near 19200 and my given target was 19000. From 19650 to low of 19200 minted huge profit for short sellers. For tomorrow, 3 November 2016, bank nifty future outlook remain weak and below 19460 traders use major bounce backs to go short with stop loss. Bank Nifty future might test 19000 and then 18500 levels in near terms. Watch for panic moves below 19000 levels. For tomorrow,resistance levels are 19400 and 19570 and these are fresh short entry zones. Nifty future intraday support zones as well as downside targets are 19200 and 18930. Bank nifty Future traders can use 19400 to 19570 zone to go short with stop loss for target 19200 and 18930. Bank Nifty option traders can buy and accumulate in bank nifty 19000 put options of November expiry around 200 rupee zones with stop loss for big short term gains. Today we saw almost 110 rupee or 50% premium gains in this option. Bank Nifty weekly chart suggesting bank nifty might test previous lows of 18880 in medium terms.