BankNifty future at hurdle 18180 watch for breakout or reversal move
Banknifty future last closed at 18180 with gain. Banknifty future is recovering from December lows and hit high near 18300. For month of January, banknifty future closed at major hurdle of 18180. Banknifty future closed at make or break level. Traders here must watch for breakout or reversal and continuation of downtrend. If banknifty gives daily closing above 18180 with strong price action and on volume. Then expect January series bullish targets at 18735 and then 19330. If fails to cross 18180 on daily closing basis then that will be over signal for recovery rally and downtrend will resume for targets 17580 and then 17050. Below 17050, banknifty will enter super bearish zone for targets 16450 and then 15870.