Live Market

Monday, November 29, 2010

Now Banknifty Seems To Float above the Roof

The Banknifty today opened in Gap Up about 100 points from yesterday closing.The banknifty sustained well in 11800 level the day was bit narrow within 150 points swing and witnessed a genuine trade without much gambling.
In my friday post we wrote the banknifty will go up on monday when the most other site were foreseen the monday market may fall to new low.Today whatever we forseen and wrote on friday almost 50% result was seen and the coming sessions it will move up and try to float above the Roof(resistances) no wonder if it cross again 12200 levels.
The banknifty and nifty shown a better low and better high.The Bn today touched 11918 and nifty was 5864 both these index are now very close to the hurdles that hinder its up moves....if break out happen it may easily touch 12000,6000 levels respectively.
Today we made a gain of 100+ points in 3 trades without much hassles.