banknifty future weekly technical analysis-expect recovery up to 14400

bank nifty future technical analysis for week 29 feb to 4 march 2016

bank nifty future technical analysis for week 29 feb to 4 march 2016

Banknifty future this week closed with loss. Like nifty, banknifty given huge swing on both sides. After touching almost 14500 this week, banknifty succumbed to supply pressure and hit low of 13541. Almost 900 points range and weak closing for banknifty. On daily chart, recovery signals are visible and banknifty future might recover up to 14450 levels. On downside 13600 and 13400 are support zones and stop loss levels for near to short term traders. Weekly chart price pattern and indicators are still bearish. For risky future traders advice will be follow buy on dips strategy for banknifty future with stop loss below 13400 for targets 14100 and 14450. Option traders can use banknifty 14200 call options for buying and accumulation with same stop loss as above.   for future tips and option tips by sms with follow ups visit subscription page.

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