Live Market

Friday, October 22, 2010

Banknifty Relief Rally?

The banknifty today opened mild gap up and shown instant weakness fell from 12380 level to 12232 that was the day low and from there are it traded few hours in side ways and slowly gained strength and gone up and touched the day high 12580 level which is unexpected 'U' turn.The nifty yesterday closed very week gone down to 6000 mark and today it crossed 6140 level.Now i expect a gap down opening tomorrow.Today due to the hike up price of sbi about 80 points made banknifty very strong and many companies result was seems good and taht lifted nifty up side...The market is again going to slide down on the coming days.Let us wait and watch.

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