Nifty future pre budget rally is coming??
Banknifty future bottomed out-time to big buy!!
Banknifty future this week closed at 18336 with loss. This week we saw 500 points range in banknifty future and index future is consolidating near 18200. For next week, my banknifty future outlook is bullish and trading strategy will be buy on dips for big move. As expected below 19k banknifty remain under pressure and given swing low up to 17980 while our bearish swing target was at 17750. But now price pattern as well as major indicators suggesting bottoming out process and time to. For next week, banknifty major support as well as buying levels will be 18250 and 18000 while on upside 18750 and 19020 are target zone. 19k is major swing target for positional long traders. Watch for big breakout above 19k for next swing target of 19800 in January series. For long term investors, 18880 is major hurdle and level to watch on weekly closing basis. Above it my long term target is at 20800 which might be seen in 2017.