Bank nifty weekly report for 24 to 28 October 2016

Bank nifty weekly report for 24 to 28 October 2016 Bank nifty future this week closed at 19730 with strong gains. As expect bank nifty future recovered from lows on sharp short covering as well as on value buying. This week bank nifty future hit low around 19000 while high was near 19800 total 800 points rally from lows. Bank nifty future coming off from oversold zones and expect strong rally on the upside in medium to long terms. This week bank nifty future achieved my targets of 19300 and 19670. For next week bank nifty future support zones are 19400 and 19100 while on upside 19900 and 20300 are resistances as well as target zones. From medium term view, bank nifty future above 19670 remain bullish and buy for targets 20300 and 21300.   Bank nifty future traders keep long open with trailing stop loss for targets 19900 and 20300 in next week. While this fresh breakout will have 20300 and 21300 targets on the upside for medium term swing traders. On downside 19670 I major support zone. Banknifty 19000 call option given a huge return on buy call now watch 19900 call options of November expiry as a buy on the decline with stop loss for big gains in medium terms.   On the weekly chart, bank nifty future showing bottomed out pattern and investors here can expect targets of 20800 and then 22300 in longer terms. On downside 18800 is the bottom and remain major support level. For bank nifty option tips on WhatsApp with live support and follow-ups join our option tips service.

The Author

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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