Technical Analysis Report for 10th March 2017

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Shortterm Bullish Trend continues for BankNifty and Nifty Future trading with a  Bearish outlook

Watch for TrendLine Support of 20627  …Below this level…No Positional Longs

Trendline Hurdle for NF @ 9003…No Short Positions above this level

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9th March 2017…Technical Trading Levels for Nifty and BankNifty Future

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Shortterm Bullish Trend continues for BankNifty and Nifty Future trading with a  Bearish outlook

Watch for TrendLine Support of 20586 and 8926 …Below this level…No Positional Longs

BNF: Sell on Rise to 20861 with strict stoploss @ 20927…..Target for daytraders @ 20651….(Strictly no Positional Shorts )

OR

Buy on Dips to 20651 with Stoploss @ 20586..Intraday Traders Exit @ Target of 20861..and others Keep for Positional Target of 21158

 

NF: Sell on Rise to 8983 with strict stoploss @ 9003…..Target for daytraders @ 8921….

OR

Buy on Dips to 8921 with Stoploss @ 8902..Intraday Traders Exit @ Target of 8983…(No Positional longs Recomended)

Expiry Day for Feb series…..Technical Analysis for BankNifty Future

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BankNiftyFuture closed at 20857 on Wednesday 22nd February 2017.

Being February contracts Expiry Day…Heavy Volatility can be expected

BankNifty Future in Shortterm Bullish Trend………

Strategy for Expiry day is to ……..

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Buy on Dips to 20741 with stoploss of Major Support @ 20668…..(Feb series)

(Day Traders  can exit at target of 20975 & positional traders can rollover to March series)

OR

Sell on Rise to Intraday Hurdle of 20975 with Stoploss of Shorterm Hurdle @ 21048…(feb Series)

(Intradaytraders should exit @ target of 20741)