Live Market

Thursday, October 28, 2010

Banknifty Future Weaken Further Today

The banknifty future opened flat and instantly fell down and came down to 12180 level.Where as in the after-noon session it shoot up again and cross over the days high and the last half-an-hours some eratic fall of 100 points seen within 7 mins time and it closed weak.
The 'Eod' chart above shown, showing the banknifty future is weaken further today from yesterday chart. The today market was quite un-predictable as the F&O closing+the fight between bulls and bears to sustain their 'status quo' it swung on both sides.. it went up and fell down.The SBI was very volatile and Bn acted as per the sbi moves.
The Nifty today made another low and seems very weak.We need to watch out the 5839 level digilently weather it breaks down or take support and move up!!. The first week, the market may witness more swing as the largest issue ever in indian history 'Coal India" issue is going to open this will bring more money into market as the sellng/buying will be more aggressive in this scrip. I belief it is a very good scrip to hold for a long term beyond 3 years .

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