Banknifty future hit 23700 call next resistance 24200

Banknifty future technical call update

 

Banknifty future hit 23713 and achieved given bullish swing target of 23700. From low of 23k we saw almost 700 points rally and huge gains for buyers. Above 23700, banknifty future will have next resistance at 24200 and that will be next swing target for banknifty future if sustain above 23700.

On downside bank nifty future will have support at 23500-23300 and 23100. Watch for reversal moves, from these levels on any retracement and expect breakout above 23700 for next target 24200. Keep eye on banknifty 24000 call options of august expiry for big short covering rallies.

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Pramod Baviskar

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