Banknifty future monthly outlook for June 2017
Banknifty future in month of May closed at 23335 with huge gains. This was straight fifth gaining month for nifty future. In May banknifty future hit low at 22290 and closed near month high of 22380. Almost 1100+ points gain in May 2017. In last 5 months banknifty future rallied from low of 17850 to high of 23380 so almost 5530 points or 31% return in last 5 months in banknifty future.
For month of June 2017, banknifty future outlook remain bullish above 23k on daily closing basis. On upside my bullish swing targets zones are 23700 and then 24k. Below 23, expect deep correction and consolidation up to 22700 to 22k.
Banknifty Future traders keep buy on dips trading strategy for banknifty future in June above 23k and book profits around 23700 and then 24k. Below 23k, banknifty might turn bearish and strategy become sell on rise.
From investment view, banknifty future hit my 2017 first target of 21400 and now heading for next investment target of 24600.