Nifty future hit my tgt 8340-8515 now watch for 8750-8920
Nifty future this week closed at 8672 with huge gains. This week
nifty future low was around 8330 and high was almost 8700. Total
370 points or almost 5% gain for major index in 1 week. On long
term chart this is clear breakout for big targets on upside.
Nifty future achieved my January buy targets of 8340 and then
8515. Now entered into super bullish trend and heading for my
next super bullish zone targets of 8750 and 8920 so traders keep
buy on dips view. Nifty 8300 call options rallied from 130 to
almost 430 rupee premium. On long term chart, nifty future is
heading towards my 2017 target of 9175. On downside support
levels are 8280 and 8000.
Banknifty future hit my target 18750-19300-19880 now watch for
Banknifty future this week closed with huge gains at 19804.
Banknifty from low of 18700 rallied all the way to high near
19900. Total almost 1100+ points� gains in 1 week and strong
bullish breakout on long term charts. Banknifty future achieved
my given positional targets of 18750-19300 and 19880. Now next
super bullish target is at 20500 which might be expected in
budget week. We have seen huge gains for banknifty 19000 call
options buy call. From long term view, banknifty future is
heading towards my 2017 target of 21400. On downside 18700-18300
and 17400 are major support zones on banknifty weekly chart.
Consider for this week...26449-26407 a nearest support. Break
below 26407 it'll fall down to 26251 which is a most crucial
support where buying support will be seen. In worst scenario a
close below 26251 heavy fresh selling will drag it down to 26125
& 25921. Upward side 26650 & 26738 nearest & 26823 a most
crucial resistance up to which selling will be seen. A close
above 26823 only decisive up move will start.