banknifty weekly outlook for 9 to 13 nov 2015

bank nifty this week closed at 16995 with loss.
bank Nifty 5 weeks channel trend is down and
bank Nifty 20 weeks price channel trend is down.
RSI is at 40 with sell signal.
banknifty weekly support will be 16700 and 16450.
banknifty weekly resistance will be 17000 and 17460.
technically banknifty index is weak and
expect it to test lower support zones on continues selling.
banknifty future weekly trading call will be
stay short for target 16700 and 16450 with stop loss.
banknifty option weekly trading call will be
stay long in banknifty 17500 put options with stop loss.

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Pramod Baviskar

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