Live Market

Tuesday, October 26, 2010

The Range Bound Trading Will not sustain now...

The banknifty struck in the 'Range Bound Trading' in last few days and i expect it Will not sustain this range now on the coming days...The banknifty opened today in 12500 level and there on shown weakness and fell down to 12400 level >now the 12380 range seems to be a hurdle for break down a opening below this level bring fresh selling and can slide down to 12200 level. Tomorrow a gap up opening above 12545 level only add strength or it slides down and go out of this range bound on the coming sessions.As i wrote in my post avoid long..
Today we sold in 12495 and bought it in 12430 level and done only 2 trades with profit..The day was very much snail moves within a narrow range of 12380-500.not able to much trade.

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