Banknifty future & options technical analysis for 26 to 30 November 2018.
Banknifty future daily chart technical analysis
Banknifty future of November expiry last closed at 25998 with loss. Before that we saw high of 26400 this week and my next given target was around 26650. Now banknifty future is correcting towards 25800 support zone. If banknifty future fails to hold 25800 support then expect downside up to 25050. Banknifty daily chart stochastic is overbought and now coming off while MACD looks topped out but traders must watch 25800 support closely for breakdown and reversal. On reversal traders must go long with strict SL below 25800 for tgt 26650. And if fails to hold support then go short with stoploss for deep bearish target of 25050.
This week banknifty 26100 call options rallied from 361 to 474 minted 32% returns. For next week watch December expiry 25800 call & put options for buying on situation of the market.
Banknifty future weekly chart technical analysis
Banknifty future on weekly chart showing loss for the week. First weekly loss on profit booking after last 3 weeks recovery move. This week we saw 400 points small range due to holidays. On weekly chart banknifty relatively looks stronger than nifty and still above major weekly averages. If banknifty holds this trend then expect rally to continue ahead towards 28600 in medium terms. Failure result in continuation of correction phase towards 23300. Banknifty weekly chart indicators and oscillators are relatively bullish than nifty and suggesting upside for prices in medium terms.
For genuine banknifty future tips and banknifty option tips with support and follow ups, subscribe to our banknifty advisory services.
Share It
BLOG AUTHOR
Professional Market Trader And Owner Of Dalal Street Winners Advisory And Coaching Services. Working Since 2007 And Online Presence Since 2010. We Provide Highly Accurate And Professional 1 Entry And 1 Exit Future, Option, Commodity, Currency And Intraday Stock Tips On Whatsapp With Live Support And Follow Up.
0 comments:
Post a Comment