Live Market

Tuesday, November 30, 2010

The Floating is just commenced...

Although the banknifty future opened today weak in a gap down and gained momentum there on and shown its power.Its acted like a silent Warrior not shown its impulsive inner strength..from the days low of 11766 12096 at last traded in 12025 in its closing trade.This is again a strong closing note.

We foreseen this up move when it fell down to 11400 and asked all our positional traders to go long , today we exited the same longs near 12060 level.Even in our yesterday's pre-market view, we posted the banknifty will cross 12000-12200 level that is achived.Today the banknifty touched 12096 level.

Tomorrow we expect a flat opening and trade in side ways,If nifty open above 5940 level fresh buying may comes in and that may boast the mid-caps stocks which fell down recently.The GDP growt shown 8.9(From 9.1)and tomorrow the euro banks test may give some more impacts on these index's
Nifty moving above 6015 level will motivate a short term rally.Avoid short if open above 5940 level.

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