BANKNIFTY FUTURES opened today on a flat note @ 12500 due to the lackluster trading from the Global and Asian markets. It traded most part of the session in a narrow range of 120 points between 12500 - 12380 making an intraday low of 12380 in the process. It made a brief attempt to rally in the last hour of the session to break pass the 12500 mark , which was the intraday high of the day , but failed and finally closed the day @ 12385 .
BANKNIFTY FUTURES seems to be consolidating in a range of 500 points , between 12200 – 12700 , from last couple of sessions and any breach of this levels with good volume and equal momentum will move Bank Nifty sharply on either direction. The level of 12800 on the upside and 12200 on the down side are the important zones to watch for at present.
Our view on Bank Nifty is Bullish . Any dips in the market can be treated as buying opportunity with proper stop loss.
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