Banknifty weekly forecast for 13 to 17 july 2015
Banknifty spot this week closed with loss. This was first weekly loss for banknifty after last 3 weeks strong gains. This week banknifty spot hit high around 18980 while low was at 18402. Total almost 500 points or almost 3% volatility in week and closed flat negative on profit booking.
Banknifty on weekly chart still closed above major averages with bullish divergences. For next week, banknifty resistances are 18700 and 19050 while on downside 18400 and 18100 are strong support zones.
Above 18100 keep buy on decline trading strategy for banknifty future. Option traders can use 18k call options for buying and accumulation on correction with stop loss for target 19050.