Nifty future weekly- buy call 8120 to 8230 tgt given 8355
Banknifty future weekly-bullish breakout above 18170 for target 18730
closed at 18317 with gain. This was second weekly gains for this banking major index. In these 2 weeks banknifty future given almost 900 plus points rally from bottom. Banknifty future after weak opening in month January, recovered from lows and given strong breakout above 18170 resistance level. For January series, banknifty future entered into bullish zone for targets 18730 and then 19300. Banknifty future on downside has major daily closing basis support at 18170 and traders above it keep buy on dips strategy for positional target 18730. Option traders keep buy on dips view in banknifty 18000 call options for big gains. We already saw big gains for this index options in this week. Banknifty future long term chart is looking bottomed out. On downside 17330 is major weekly closing basis support zone and above it investors keep buy on dips view for year-end target of 21260.