banknifty weekly-support 15550 resistances and tgts 16900-17700

banknifty future weekly chart 9 april 2016 Banknifty future this week closed with heavy loss at 15669.   On weekly chart, banknifty future price trend is down but momentum is on recovery side.   Technically, 15500 is major support and banknifty future this level in this week and closed above it.   On upside 16900 and then 17700 are strong resistances as well as target zones for month of April.   Option traders can buy and accumulate 15500 call options on decline with stop loss.   Weekly closing below 17500 means downtrend continuation and lower levels up to 14700 and below.

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Pramod Baviskar

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