Live Market

Tuesday, December 21, 2010

Banknifty View for 22.12.10

In our view the banknifty may open in gap up and try to rush up to hit the 11480 level..
This is what we wrote in yesterday's post about today market.That became true.That was happened today from the opening 11329 level it rose to 11480 in no time and sustained a while again good consolidation seen then took up to 11600 levels.

Today we missed a golden chance as we took long in the opening itslef and booked profits so soon...but the market touched the high of 11613 level and lastly traded in 11574.Our attempts of short in 570 level gave us little gain twice but at last we went short and covered it at marginal loss.We told it find difficult the cross 11480 level, but today banknifty shoot up as the nifty was witnessed huge buying.
In our view the Nifty will be very bullish beyond 6020 level..The Nifty touched the days high of 6019 and in 1 point it missed and lastly traded in 6014.90.It would have crossed this level today but failed in it,this may showing as tomorrow the nifty may weak or gap down opening. As the headging players are huge the Nifty faces hurdles on both sides.The market now in a kind of Transition Phase from bears to bulls.

Banknifty Now in its bulls run and may go near 11700 level if sustained well near 11680 about 1 hour or more it may move up to 11800 level.