BankNifty future weekly technical analysis report for 12 June to 16 June 2017
Banknifty future this week closed at 23634 with hue gain. Banknifty future this week given freaky high at 23770 and hit my given bullish swing target for June of 23700. This week banknifty future hit low at 23300 and high was at 23770 almost 500 points range and bull run continues. Banknifty is still is in strong bullish trend and expect short covering rallies to continue ahead.
For next week, Banknifty future trend and outlook above 23400 will remain bullish and strategy remain buy on dips. On upside 23750 and 24100 are fresh super bullish swing target zones. On downside banknifty future will have supports at 23400 and 23250.
Banknifty future from investment view hit 2017 target of 21400 and now heading for my next target 24650. This week we saw fresh high of 23770.