banknifty outlook : strong hurdle of 15310

banknifty technical analysis for 11 march 2016

banknifty technical analysis for 11 march 2016

Banknifty future today closed at 15270 with loss of 107 points. Today after opening at 15370, banknifty made high at 15401 and then strong supply due to profit booking made all day pressure on index. On downside we saw low of 15110 which was brought by strong hands.   Here 15310 remain as strong hurdle and above banknifty future will open doors for 16550. Above 14800 risky traders can buy every dip. Targets remain at 15310 then 15700 and final tgt will be 16550.   Option traders can use far month 16500 call options for buying and accumulation with strict stop loss below 14800.

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Pramod Baviskar

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