Live Market

Wednesday, December 29, 2010

Banknifty View for 30-12-2010

The Banknifty today was in fire.The opening we expected it may zoom and gone long in 11480 and kept our sl at 463 and it was hit and shoot upto 570.very unlucky today for us,it touched a high during market closing at 11640 level.
The nifty also moved up but the banknifty seems to be the backbone for nifty to float high.The banknifty was today in one directional move...though the selling was more still it could move up due to the huge roll over.
Now...The tomorrow is the F&O Closing and the rollover may bring unexpected jerks on both side.The Jna future now trading in about-60 points premium this shows as indication the short roll over is more.The 11 660-80 and 720 area is strong hurdle for its upmove above this level be alertfull.Trade mild with sl for both long/short.