Banknifty future today closed at 25051 with gain. Banknifty future today hit my given September swing target of 25100. Now above 25100, next major resistance level as well as bullish target will be 25870. For September banknifty future opened at 24354 and recorded low at 24197 and today hit high of 25104. So total almost 900 points rally from low in first half of September and banknifty long term bullish trend continues.
Banknifty daily chart Prices are trading above all short term averages. On downside 24850 is 5 days average level and below it 24566 is 20days average level and fresh long entry zone on correction with stop loss for upside targets. If sustain above 25100 then expect 25870 as next target zone in 1-2 weeks timeframe.
Banknifty future traders watch 25100 as make breakout level and if banknifty gives move above this level with strong price action and on volume then buy banknifty future for positional target of 25870 with stop loss below 24850.
Banknifty option traders above 25100 keep buy on dips view in banknifty 25100 call options of this expiry or banknifty 25500 call options of next expiry with strict stop loss for big gains in short terms. Today we saw huge rally in banknifty 25100 call options from low of 110 rupee to almost high of 206 rupee.
Banknifty future this week opened strong gap up and heading for second weekly gains. Banknifty already given bullish breakout in last week and entered super bullish trend for my investment target 28500.