banknifty weekly technical report for 27 june to 1 july 2016

banknifty weekly technical report for 27 june to 1 july 2016 Banknifty future on Friday close at 17369 with loss. We saws intraday low below 17k but closed with some recovery on value buying. Banknifty future achieved my downside first corrective target of 17200.   Banknifty future daily chart, price trend and momentum both are bearish. Below 17480, banknifty future will remain weak or sell. On downside 16900 and 16700as support zones on daily chart. Daily closing above 17480 means chances of recovery short covering rally but that seems to be less likely in upcoming weeks.   Banknifty future weekly chart, showing negative closing for this week with high volatility drama. This was first negative weekly closing for banknifty future after last four weeks gains. Banknifty weekly chart price trend is bullish but momentum is on corrective side. Below 16700 trend will change into bearish zone. Banknifty weekly chart showing support zones around 17200 and 16700.   For banknifty future tips and banknifty option tips by SMS visit subscription section.

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Pramod Baviskar

Professional Market Trader And Owner Of Dalal Street Winners Advisory And Coaching Services. Working Since 2007 And Online Presence Since 2010. We Provide Highly Accurate And Professional 1 Entry And 1 Exit Future, Option, Commodity, Currency And Intraday Stock Tips On Whatsapp With Live Support And Follow Up.
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