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Monday, December 27, 2010

Banknifty View for 28-12-2010

The Banknifty Move today was like a snail crawling.We made gain in banknifty intraday about 70 points+ 40 points in intraday trading.The Banknifty held in sideways move the high made today was 11570 and low was 11450.The 11440 seems now a kind of support breaking down may lead to 11330/280 levels.On the upside it has strong hurdle in 11660 level, so it may swing sideways between 440 to 660 on the coming session

The nifty may weak below 5975 level.Today the nifty shown weakness and fell down to the 6020 level if tomorrow move above 6060 only confirm a firm trend reversal.The FII's buying seems to continue and may pumb another 5 billion dollars into our market.So the value buying is on the rise that may lift market once again.

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