Live Market

Wednesday, September 1, 2010

Will This upmove continue?

The Banknifty is fullfiled our expectation as we wrote in our yesterdays's pre-market prdiction.Here i am attaching the same for your attention.
"Today it is sustained well in 10670 -700 level and during the closing it hits the day high 10750 and marked 767 and was not able to stay and fall 30 points and closed in a possitive note.The day low was 10643 ...The 10633 would have brought fresh selling but today, some how it sustained above and we have seen good consolidation near 10670 level. The banknifty last 3 trading days held well in a range of 10650 to 860 level and considering todays consolidation it may take a jump upto 10930 level. "
"Tomorrow we expect a Gap Up opening in banknifty.If it open above 10840 by chance it may surge it further to 920 level "

Today the banknifty future opened in >'gap up' near 10780 and surged to 802 and slide down to 758 level and that was the day low.In the the opening we initiated a long near 770 and placed a sell at 834,but when it fall down to 760 in no time we made a double sell and it came down to 758 and rose up to 840 then it fell down to 765 level that made great mess and the day was very tricky as far as banknifty is concerned. it hits all SL here and there.The sl eat out day.. The BN slowely shoot up again to 840 levels...there its sustained well and went up to 907 during the closing.(our pre-expectation was 920)
The nifty was very neat and fairly done all our expectation/prediction at last it went to 5488 high..we have given in our free tips stream a buy near 410 and gave a target of 484 and that was attained.The icici bank touched 1000 mark and took charge of the banknifty upmove.
What do we expect Tomorrow?
We are expecting a mild gap down to flat opening tomorrow and if move above & sustain 10940 levels will be strong and the trend may change to mild bullishnes and reach to 980 level.The 10k level it may find hurdle so, it may move to side ways in 940+ levels and a few more days consolidation may take it further up.We also need to watch out the world cue's for this and our market is now(re) connected with the trend of the world market.

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