banknifty future monthly support and resistance levels for october 2016

BANKNIFTY - Candle Six Months_1d 2016-10-03 103050

Banknifty october future pivot point levels

support and resistance Monthly technical levels
Resistance 221275
Resistance 120295
Month pivot point level19670
Support 118700
Support 218100

    for BankNifty future tips and Banknifty option tips with support and follow ups visit our subscription page.     How to use Pivot points for practical trading ? If security trading above its pivot level then expect uptrend for period and expect resistance zones as upside target and reversal points on chart for that period. In this scenario stop loss must be below pivot level.   If security trading below its pivot level then it is in downtrend for that period and expect support zones as targets as well as reversal points for that period . Here stop loss for short positions will remain above pivot point level.   Entry should be near support or resistance for better risk and reward ratio. exit strategy will be at will or at target.

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