8 December 2015 banknifty intraday technical report

Banknifty December expiry future today closed at 17033 with gain. In intraday, bank nifty hit a low around 187991 while intraday high was at 17125. On daily chart price trend still down but momentum as expected in our bank nifty weekly report, showing reversal signs.
Today almost 140 points small range was seen in this index future. For tomorrow, bank nifty intraday resistance levels will be 17150 and 17330. On the downside, 16990 and 16900 support zones as well as fresh buyer’s entry points.
Future traders use 17900 zones for buy and accumulate with stop loss. And expect targets 17150 and 17330 targets in intraday. For option traders, 17200 is best option to buy on the decline with stop loss for target 400-500+ in short to medium terms.
 

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Pramod Baviskar

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