banknifty future weekly technical analysis for 28 march to 1 april 2016
Banknifty future this week closed with gain at 15925. This index future also in last 4 weeks given 3 positive session closing and 1 negative weekly closing. In 4 weeks’ timeframe banknifty future rallied from low of 13400 to high above 16k. 2600 points Bull Run in very short period of time. For next week,trend and momentum both are strong bullish. 16000 is immediate hurdle and above it another bout of short covering will trigger for my final target 16550. On downside 15450 is strong support and re-entry point on correction. Future traders with trailing stop loss expect target 16550 in this week. traders can buy 16500 call option of next month with stop loss.