Bank nifty future below 17700 remain sell tgt 17350-16900

BankNifty future technical outlook for 27 dec 2016

BankNifty future technical outlook for 27 dec 2016

Bank nifty future today closed at 17678 with loss. Bank nifty future today achieved target of 17700 and breached that support and closed below it. With gap down opening we saw low near 17600. Technically below 17700, bank nifty future will remain weak and absolute sell for target 17350 and then 16900.   For tomorrow, banknifty future intraday resistance zone is 17750 to 17850 and remain as selling zone with stop loss. On downside 17350 will be first target and then 16900 is next major target as well as long term support zone. Positional traders expect 16900 till 30th December as target zone.   Banknifty option traders keep buy and accumulate view on banknifty 17500 put options of January expiry with stop loss.

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