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Monday, December 20, 2010

Banknifty view for 21-12-2010

The banknifty may find difficult to cross the 11740 level.One can avoid long near this level.Once it cross the 11800 level it may act very bullish.In my view the banknifty may fall down from it 11600 level to 11400 level and trade side ways...if Nifty go beyond the 6020 level banknifty may move up aggersively...>> This is what i wrote in my friday's post.The banknifty opened today gap down in 11400 and fell down 11274 level and again bounced up and crossed the day high 400 to 11444 and fell down to new days low to 11260 and that was the days low cum last traded price.
We made about 147 point gain in intraday banknifty trading.In our view the banknifty may open in gap up and try to rush up to hit the 11480 level..if fails to move above this level again it may fail the bulls hope and fall down upto 11160 level.Now this 11170 area seems a critical support and broken by any means will add panic selling.
Today Nifty opened in gap down at 5900 and able to touch a days high of 5999.That shows the bulls are ready on the shore to catch the fish.Be watch full in 6020 level market may zoom up..Avoid shorts when cross this level.

1 comment:

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