MTECHTIPS BANKNIFTY FUT intrday trading analysis 11-06-2015

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MTECHTIPS BANKNIFTY FUT  intrday trading analysis 11-06-2015

MTECHTIPS banknifty jun. expiry future today closed at 17670 with gains of 175 points. banknifty also trading with 37 points discount showing under confidence of market in this recovery rally. today market mostly rallied on short covering by strong hand and not on buying. on option side 18000 call option writing seen suggesting it will remain strong resistance. for tomorrow 17730 and 18240 are strong resistance on daily closing basis. 17550 is trailing stop loss for long positions. watch 17730 level for breakout and if happen future traders can buy bank nifty future with stop loss for target 18240 or option traders can use 17800 call options for buying and accumulation.

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