banknifty future forecast for 3rd june 2016

banknifty future forecast for 3rd june 2016 Banknifty future today closed at 17559 with gain. For tomorrow, banknifty future intraday resistances are 17600 and 17680. While on downside 17400 and 17120 are intraday support zones.   Banknifty future below 17660 remain sell on rise and expect downside short term target of 17200. While for intraday downside up to 17400 can be expected.   Future traders keep strict stop loss above 17660 and hold short view for targets 17400 and 17200. Weekly closing below 17200 means fresh downtrend or sell signal for month of June 2016.   Option traders use banknifty 17200 put options as buy on dips with same stop loss given above.

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Pramod Baviskar

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