POSITIONAL TRADES FOR MEDIUM TERM TRADERS:FOR OCT AND NOV. SERIES 2016.

A HEAD AND SHOULDER PATTERN FORMATION IN BANKNIFTY  INDEX IS REFLECTING A MEDIUM TERM DOWNWARD MOVE IN THE INDEX. IT MAY BE  A 1000 TO 1500 POINTS MOVE FROM HERE…

OTHER TECHNICAL INDICATORS ARE ALSO SUPPORTING THE SAME.

SO FROM HERE SELL BANKNIFTY ON RISE AT AROUND 19200-19250 STOP LOSS AT 19500 CLOSING BASIS FOR THE TARGET OF 18500 AND THEN 1800 ALSO LOOOKS POSSIBLE.THESE ARE SPOT LEVELS