Buy Bank Nifty Future near 10580, Trading at Support Short term target 10920

Bank Nifty future was seen trading lower today around 10580 level, If we look at spot level it was at 10480. This 10480 is very important support level we are expecting bounce from here and this bounce will target 10920 level which is near term resistance. Short and medium term trend for market is up so we are only focusing on buying at dips strategy, We may see some consolidation in bank nifty future before the next up move starts. On daily chart 10535 level is 50% Fibonacci retracement of high 13303 and low 7766, Bank nifty future taking support there is very much expected. Also 100 periods EMA falls at 10450 so from current level we will see sure shot bounce. Even today this index is moving in 40 points range suggesting some consolidation, on intraday chart you will see from 10:45 am there is just 40 points range. Most of mechanical indicators are showing overbought situation which is normal in case of uptrend. State bank of India has major (strong) support at 2200 level and that will be final bottom for SBIN stock, with this move bank nifty will also make near term bottom and will be ready for up move. Another stock ICICI Bank is also trading near its Fibonacci support, therefore its good to buy bank nifty future at the said level.