Live Market

Thursday, November 18, 2010

The Banknifty Slide further Down...!!

The banknifty future today huge selling was seen from the opening and closing somewhat balance to the middle. The Banknifty took support in 12,100 level and anything near 12600 it struck in range and when it move near 12800 or the chennel top selling seen.The Nifty Broken today the critical support 5937 level the next support liess in 5875 level a breake this level may weaken the market a blood bath can be seen.Avoid long now.

The above 'EOD'- chart shows the banknifty now turn to be '-ve' and a jump above 12800 may possibly lead to a new highs...But as of now the nifty is showing great weakness a further slide down is on card now.The icici,Sbi and many banks shown huge selling today.
The traders & investors are now feared to invest in the market as every one fear about the global correction. On the other hand the FII's are consistently pumbing money into indian market last few months.i have heared about 25 billions they have already invested and seems another 10 billions they propose to invest in our market.So, fundamentally our market is attractive for the long-term investors.

No comments:

Post a Comment