Today-5.1.2010, The bank nifty future were tussle witin a narrow gage between 9152 to 9206.The gap up opening gave confidence among bulls within a short while it fell down to 9152 from 9204 and caught in between the 9160 to 9174 range for a long while.it is quit rare to see such a choppiness in bank nifty future.
The spot index were in premium but the future index was somehow subressed itself its usual swing moments.i do not not why it is so...Certainly there was a certain jump up from 9165 to 9206 and unable to sustain itself in the higher level not even for 5 mins .it just came back down to square one and closed in that level.
Today the BankNifty shares traded was -16767524 and the turnover is 1070.10 crores.Anyhow today was not our day.My view for tomorrow is,it may open in a small gap down and raise to today high 9206.if traded with volume may lead another rally for the coming days.So,i advise the positional traders to avoid shorts.than if you are doubtfull about going long,it is better to keep quit and be a witness untill you gain some confidence.
Intraday traders as usual be blank and flow with the current of the market sell and buy or buy and sell accordingly and take out your profit and go home with a peace of mind.No overnight worring about the next day/watching the midnight market of dowjones or nasdag is not really required.
