Bank nifty future weekly- reversal move achieved 19460 and 20050 targets

BANK Nifty weekly technical forecast for 14 to 18 November 2016 BANK Nifty weekly technical forecast for 14 to 18 November 2016 Bank Nifty future this week closed with gain and with strong reversal on value buying at bottoms. This week nifty future hit high around 20332 while low was around 18200. Total 2200 points weekly swing and strong reversal positive week. Bank nifty future covered last 2 weeks losses and closed with strong gain and hit fresh high suggesting underlying demand for bank stocks. Banknifty future price trend and momentum both are bullish and above 19460, this index future remain buy for targets 20050 and 20500.   Bank nifty future on both side achieved my given targets of 18425-19000-19460 and 20050.   For next week, bank nifty future outlook remain bullish. Index future Traders can buy bank nifty future around 19650 and 19400 with stop loss for targets 20050 and then 20500. Weekly closing above 20500 means super bullish bank nifty future for targets of 21080 and then 21500. Weekly closing below 19460 means very bearish signal or fresh sell signal for bank nifty future till then one can remain bullish or buy side.   Bank nifty options traders can use next month 20000 or 20500 call options as buy on dips with stop loss for big gains in short to medium terms. Below 19460, traders can start buying and accumulating in in the money put options with stop loss for short term gains.   From medium to long term view, bank nifty future had taken support at 18800 and given strong reversal move and heading towards my target of 20800 .

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Pramod Baviskar

Professional Market Trader And Owner Of Dalal Street Winners Advisory And Coaching Services. Working Since 2007 And Online Presence Since 2010. We Provide Highly Accurate And Professional 1 Entry And 1 Exit Future, Option, Commodity, Currency And Intraday Stock Tips On Whatsapp With Live Support And Follow Up.
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