BANKNIFTY FUTURES opened today the day on a slightly positive tone , up by approx 55 points @ 12085 . It spend the whole trading session consolidating between the 12000- 12200 mark , making an intraday low of 12030 and intraday high of 12189 and finally closed the day at 12150.
BANKNIFTY FUTURES has shown tremendous momentum on the up side closing each trading day higher than the previous day from last 12 sessions , showing an extremely bullish scenario. Day after day it has been rallying to new life time highs. Bank Nifty Futures has to cross pass the 12200 mark with good momentum to achieve the level of 12500. It is trading in a very overbought zone , but with the good liquidity and extremely bullish momentum the level of 12500 looks very achievable in the coming future. On the down side the level of 12000 looks intact and any breach of this level may slide Bank Nifty Futures towards the 11800 mark and thereafter the 11500 zone.
Our view on BankNifty is Bullish .
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