banknifty future heading for given tgt 15300 option given 9X return

banknifty technical analysis for 3 march 2016

banknifty technical analysis for 3 march 2016

Banknifty future today closed at 15130 with gains of 677 points. With gap up opening rally is got stronger till end and closed at day high. Suggesting large amount of trapped shorts with heavy buying by strong hands. Here first target is 15300 and expect it short terms.   12% open interest addition suggesting strong buying while trapped shorts will continue to boost this v shaped rally. For tomorrow banknifty future intraday support zones will be 14970 and 14730 while on upside 15300 and 15550 are strong resistances.   Banknifty 14200 call options hit my target of 1000+. From low of 119 to high of almost 1100.

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Pramod Baviskar

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