banknifty premarket tips for 16 oct 2015

BANKNIFTY future today closed at 17760 with 177 points gain.
6% open interest addition suggest long build up.
BANK nifty 18500 call options writing is seen.
banknifty 1 week channel trend is flat and
banknifty  1 month price channel trend is up.
RSI is around 55 with buy signal.
bank nifty intraday support will be 17600 and 17410 while
bank nifty intraday resistance will be 17850 and 18050.
for tomorrow, future traders can buy bank nifty
around 17600 -17400 zone with stop loss
for target 17850 to 18050 target zones.
option traders can use bank nifty 17500 call options
for buying and accumulation on correction.

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Pramod Baviskar

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