banknifty 13900 tgt achieved next major support 13400

banknifty future and option technical view 25 feb 2016

banknifty future and option technical view 25 feb 2016

Bank nifty future today closed at 13804 with the loss of 206 points. In last 2 sessions bank nifty almost collapsed by 600 points from the top. My given tgt 13900 achieved now next support zone is around 13400-13600. This level will be best for long-term investment view. These might be some pain in the short term but in longer view this is golden buying opportunity level for investors.   Technically, momentum is strong bearish for market and market continuously testing support levels so for tomorrow traders holding shorts must trail stop loss and expect tgt 13600-13400. Reversal is expected above 13900 on closing basis only.   Options traders with ITM bank nifty options made great money today and they must trail stop loss to protect their profits.

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