BANKNIFTY FUTURES opened today on a flat note @ 12278 due to the lackluster trading from the Global markets. It traded most part of the session in a narrow range of 12315-12180 making an intraday low of 12180 in the process and finally rallied in the last hour to close the day at an intraday high of 12323.
BANKNIFTY FUTURES seems to be holding the level of 12200 for the time being and is showing good positive momentum to breach new higher levels. The levels of 12500 and 12800 may act as a good resistance areas and on the down side the levels of 12000 and 11800 may act as support zones.
Our view on Bank Nifty is Bullish . Any dips in the market towards the 12000 zone can be treated as buying opportunity with proper stop loss.
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