Nifty future hit high 8175 targets 8220-8280
Nifty future today closed at 8173 gain. As expected nifty future saw buying as well as short covering at lower levels. My nifty future targets were 8220 and then 8280. Nifty future today hit high around 8275 and closed near it. Nifty future price trend is down but momentum is on recovery side.. Nifty will enter in uptrend above 8280 on weekly closing basis. We are just in bounce back phase so keep strict stop loss for long positions and expect 8220 to 8280. For tomorrow, are 8130 and 8095 and these are fresh buying levels. of January expiry rallied from low near 60 rupee to highs of 96 rupees. Nifty future came above 8155 and looking good from long term view. This week closing will be most important. If not sustain above 8155 then expect 7200 as big long term bearish target for this major index.
Bank nifty future hit high near 18500
Banknifty future today closed at 18481 with gain. Bank nifty also seeing value buying on lower levels. Bank nifty future price trend is down but momentum is on recovery side. On downside 18220 and 18100 are support zones as well as fresh buying levels. On upside 18700 and 18775 are banknifty intraday resistances as well as bounce back rally target zones. Below 19000 bank nifty future month outlook remain weak. Bank nifty 19000 call options showing gains. We saw low near 146 and high of 205+. Banknifty future weekly chart still bearish and suggesting target of 17350.