MTECHTIPS BANKNIFTY FUT intraday trading analysis 16-09-2015
MTECHTIPS Banknifty Sep future today closed at 16723 with loss of almost 200 points. In intraday banknifty future hit high around 16930 while low was at 16700. Total 230 points intraday range and closed with loss. 2.25% cut in open interest suggest profit-booking pressure in market. Option side, 17000 call options writing was seen. For tomorrow, banknifty might show range bound moves. On downside, 16600 and 16225 spot levels are support zones while on upside 16980 and 17260 spot are strong resistances.