banknifty future 23 march 2016 outlook

banknifty future technical analysis for 23-03-2016

banknifty future technical analysis for 23-03-2016

Banknifty future today closed at 15982 with gain of 41 points. In intraday bank nifty future hit low around 15800 which is now act as trailing stop loss for long positions. High was above 16k.   Banknifty future price trend and momentum both are strong bullish. On upside 16250 and then 16550 are short term target zones if hold 15800 low.   Future traders add long with trailing stop loss below 15800 and for target 16250 and then 16550.   Option traders use banknifty 16500 call option of April expiry to buy and accumulate with same SL. Closing above 16550 in March series means open doors for 17500 and 18700 levels.

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Pramod Baviskar

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