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  • MTECHTIPS NIFTY FUT intraday trading analysis 31-08-2015

MTECHTIPS NIFTY FUT intraday trading analysis 31-08-2015

MTECHTIPS NIFTY FUT intraday trading analysis 31-08-2015

MTECHTIPS Bank nifty index this week closed with loss. This was third losing week for banknifty and in these 3 weeks period banknifty lost almost 2000 points. This week bank nifty hit high around 17446 while low was at 16670. Total 800 points weekly range or 4% volatility and closed with another weak week. On weekly chart bank nifty price trend is down but approached oversold area.

For next week, bank nifty support zones are 16950 and then 16500. While on upside 17560 and 18000 are strong resistances. Banknifty might test previous low or might record fresh low around 16500 in next week. But traders and investors keep buy and accumulate view on market and buy sharp dips in market with risk based stoploss in place.
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