Banknifty intraday stratgy for tomorrow 30 sep 2016

BANKNIFTY - Candle Three Months_1d 2016-09-29 173932 Banknifty September future expired at 19183 with huge loss. Banknifty intraday high was at 19840 while low was at 19042. Total almost 800 points’ intraday range and strong negative closing.   For tomorrow, banknifty future outlook above today’s low of 19050 remain bullish and expect short covering or call it as technical bounce back rally up to 19355 and above. Banknifty index technically looks oversold with today’s downside move and which eventually might result in value buying. But if India – pak escalate then expect sharp downside up to 18800 on fresh selling.   Risk taker above 19050 can create long or follow buy on dips view for technical bounce back move.   For tomorrow, free banknifty future tips is to buy banknifty October future around 19100-19200 zone with stoploss below 19k for target 19355 and above.   Free bnknifty option tips will be to buy and accumulate banknifty 19400 call options on decline with same above stoploss for big gains.

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Pramod Baviskar

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