Live Market

Tuesday, April 27, 2010

Why Such A Choppiness Today?

The market today was very choppy the nifty almost trades between 20 points and the bank nifty traded in 30 points..The Banknifty went upto 9818.00 and came down from that level and it was actually traded longer time between 9770 -90 level and during the after noon it was stand still in 9770-80 level and slowely came down to 9750.00 that was the day low.we went short in 9794 and covered in 9766 level and the 2nd time we sold at 9777 level and kept stop loss at 9784.00 after wards the banknifty traded thrice in 9783.00 but our SL was not triggered...Just in 1 points we escaped and covered our short during closing near days low.

The banknifty was caged between the range of 9740.00 to 9820.00 and the day trade has no was very choppy.Why this choppiness?
The ship may going to sing in a deep water??.The 9740.00 seems to be a critical support now and if this level is broken by any chance tomorrow by a gap down opening...a deep correction is possible in banknifty.Let us wait for the opening.Nifty has a strong hold at 5305.00level today and somehow the market down fall was arrested today.

1 comment:


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