Bank nifty futures outlook for next week 12 to 16 Dec. 2016
Bank nifty futures this week closed with gain at 18720. After last 3 weeks strong sell of banknifty is seeing value buying on lower levels as expected. Banknifty future technicallyand on upside 19k is major hurdle and banknifty heading towards it. 19k will be banknifty next week target zone if recovery continues.
For next week, my banknifty future weekly targets are 19000 and then 19280 if sustain above 18490 on daily closing basis.
Banknifty future traders keep long positions with strict stop loss below 18490 for targets 19000 and then 19280 in next week. Banknifty option traders keep long positions in banknifty 19000 call options with stop loss for weekly gains.
From long term view, banknifty below 18885 remain weak and heading for target zone of 17350.