BANKNIFTY FUTURES opened today higher by approx 140 points @ 12246 . It
immediately started moving down wards with the nifty index making an intraday low of 12005 , untill better then expected results from ICICI bank pulled the Bank Nifty from the lower end to make a dramatic and sharp V – shape recovery by approx 400 points , making an intraday high of 12448 and finally closing the volatile session @ 12392 .
BANKNIFTY FUTURES is witnessing some sharp and volatile movements on both sides , in line with the rest of the Market. It is trading sharply in a range of approx 600 points , between 12000 – 12600 level and any breach of this levels will see it moving by approx 500 points in that direction.
Our view on Bank Nifty is FLAT .Trades can be initiated in either direction with strict stop loss.
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