banknifty future technical analysis for 29 march 2016
Banknifty future today closed at 15725 with loss of 212 points. Today’s banknifty high was at 15909 and low was near 15500. Total almost 400 point’s intraday swing and closing in red. Today’s move was pure profit booking. Above 15310, outlook and trend will remain bullish and strategy should be buy on dips. On upside, 16200 and then 16550 aretarget zones for expiry. On downside 15555 is stop loss for intraday traders and 15310 is stop loss for swing traders. traders use these correction to buy and accumulate in banknifty 16500 call options of next expiry with stop loss.