bank nifty this week closed at 17055 with gain.
this was second weekly gain for this index
and recovery phase continues.
banknifty weekly support will be 16900 and 16700.
banknifty weekly resistance will be 17330 and 17500.
if banknifty sustain above 16700 level for next 2-3 weeks then
this might be fresh start of new bull move with price target
above 21,000 in next 6 to 12 months timeframe.
for next week, banknifty future traders can buy
dec expiry future near 16700 or below it with
short to medium term view with strict stoploss.
banknifty option weekly call is to buy and accumulate
16700 call options of dec expiry on decline for 100-150% returns.