Free bank nifty monthly future and option tips for nov 2016
Bank nifty future today closed at 19528. On weekly chart this will be second weak closing for banknifty future. For month of November, bank nifty future major pivot level is 19460. But current technical price pattern as well as indicators suggesting downside for this index and possible downtrend in this series. Below 19460 on daily closing basis, banknifty enter into downtrend and in that scenario banknifty monthly support zones as well as targets will be 19000 and then 18500. If bank nifty sustain above 19460 on weekly closing basis then expect 20050 and then 20450 as target zones as well as medium to longer term target zones on reversal.traders below 19460, can go short on index future for downside swing targets of 19000 and then 18500. For bank nifty swing shorts stop loss is above 19900 which was recent top. traders below 19460 can keep buy and accumulate view for bank nifty 19000 put options around 140-160 zone with stop loss for big targets till expiry.