Banknifty December expiry future predictions
Banknifty future today closed at 18095 with loss. Banknifty future is in absolute downtrend and after failure of bounce back move. Bears tightened their grip and. These is also lack of buying in market that’s why markets are falling. From positional view, banknifty future slowly and daily inching towards bearish swing target of 17700. Daily chart indicators are bearish and oversold. So watch 17700 level as reversal support. If breakdown below 17700 happen then expect sharp panic in market and panic selling up to 16900 which is last support for this month. From long term view, banknifty future is heading for major support of 17350. Monthly closing below 17350 means fresh long term bearish trend for this major index. Swing traders keep selling daily bounce backs with stop loss and keep target at 17700. Below it next big target level will be 16900. Option traders keep buy on dips view on banknifty 18000 put options of January expiry.