Bank nifty future hit low 17870 tgt given 17750

Banknifty future daily chart analysis

Banknifty future daily chart analysis

Banknifty future today closed at 17946 with loss. Bank nifty future price trend and momentum both are down and we saw fresh selling wave and fresh low of 17870. I already suggested below 19k banknifty remain bearish and has target at 17750 and we saw today low of 17870.   Banknifty daily chart price pattern as well as indicators are very bearish and there is more probability of banknifty braking 17750 and heading for 16900 target on panic selling. If banknifty fails to take support at 17750 then expect another strong selling wave and panic low of 16900 in short terms.   Banknifty weekly chart as expected continue correction towards 17350 zone. Month closing below 17350 means deep downside up to 15400 in longer term for this index.

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Pramod Baviskar

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