Banknifty future below 190460 remain sell targets 19050 and below

BANK Nifty F&O technical report for 8th November 2016 BANK Nifty F&O technical report for 8th November 2016 Bank Nifty future today closed at 19374 with gain. Bank nifty future bounced back almost up to my target of 19460. Today’s bank nifty future high is 19435. But price as well as indicators pattern suggest this bounce back was shorting opportunity and bank nifty future might test previous low of 19050. Uptrend will start above 19460 on closing basis only.   For tomorrow, 8th November 2016, banknifty future intraday resistance zones are 19460 and 19650 and these are fresh short entry zones. On downside 19300 and 19050 are support zones as well as intraday target zones for banknifty future traders.   Bank nifty option traders keep buy on dips view on banknifty 19000 put options around 80-90 with stop loss for targets 180 to 200 rupees. Banknifty swing traders can take fresh short positions around 19460 with stop loss for targets 19050 and then 18500.

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Pramod Baviskar

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