nifty bank future report for 20th may 2016

nifty bank future report for 20th may 2016 Banknifty future today closed at 16559 with 200 points loss. Today we saw freak opening at 17282 and banknifty future closed near days low. My sell on rise view worked and banknifty future achieved both downside intraday tgts.   For tomorrow, 16480 is major support and if banknifty gives reversal from it then it will be best buying opportunity in this index future.   Banknifty future intraday support zones are 16510 and 16325. On upside 16700 and 16800 are resistance levels.   For tomorrow, I have contra view and follow buy on dips view for banknifty future for tgt 16700 and 16800.   Option traders now watch banknifty 16500 call options for intraday.

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Pramod Baviskar

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