Market forecast for 1st December 2016

Nifty future hit 8270 given target 8335

Nifty future hit 8270 given target 8335

Nifty future today closed at 8253 with gain. As expected nifty future continues recovery phase and heading towards my next target of 8335. From low of 7920 we saw first upside target at 8165 and now breakout above it sustaining on follow up buying and heading for my target of 8335. Above 8335, next nifty future swing target will be 8490. Nifty future traders above 8165 keep buy and accumulate view for target 8335 to 8380. Option traders now seeing strong gains in nifty 8300 call options of Jan expiry. Above 8155, medium to long term target for nifty future comes around 8885 and nifty already started journey towards it. Banknifty future hit high 18750 my targets 19000 and 19460

Banknifty future hit high 18750 my targets 19000 and 19460

Bank nifty future today closed at 18682 with strong gains. As I already suggesting that level below 18400 means oversold banknifty and remain value buy. Bank nifty future hit high near 18750 and my targets are 19000 and 19460. On every upside see strong and sharp short covering spikes. On downside banknifty future support zones are 18400 and 18300 and fresh long entry zones with stop loss. Banknifty weekly chart is bearish but oversold. Future traders who bought banknifty below 18400 are in profit and keep buy on declines strategy. Banknifty 19500 and 20000 call options of Jan expiry showing gains. From long term view, bank nifty future weekly closing above 18800 means journey towards 20800+.

The Author

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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