MTECHTIPS
Mtechtips BANKNIFTY FUT intraday trading analysis 26-10-2012
Bank nifty spot on thursday closed at 11614 with gains of 37 points or +0.31%.on thursday banknifty opened gap down and hit low of 1152 while high point was 11643. on intraday chart,banknifty holding bullish trend and momentum also building for long side traders.only above 11640 supply is so large that 4-5 time banknifty given reversal from that point. for monday on downside banknifty intraday support levels are 11495 and 11325 while on upside 11670 and 11850 are resistance levels. if holds 11650 for 2-3 session then next major swing target will be 12,400 in nov series.
Intraday traders buy future near support levels only.
for target of 11670 and then 11850.
on option side 11800 call option of nov expiry will
be best trading pick.
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