Banknifty futures starts to trade in NSE in around june 2005. I have taken the bottom from there and technically  I came to know about the perfectly matched ELLIOT WAVE IMPULSIVE FORMATION on monthly charts. After observation my recommendation that the 5TH wave now has completed the final target of 24000-24500 so if we find any sign of a trend reversal than it may be an opportunity to go short as we can observe highest open interest build up in the coming month contract of august 2017.

Here is the snapshot: