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Thursday, December 30, 2010

Banknifty View for 31-12-2010

The banknifty opened mild gap up at 11680 and fell to 660 there on shoot up to 11739.95 was days high and the day made a low at 11632.35 in after noon trade .We have done very mild trade as the banknifty was struck quit long time in 11710 was almost directionless during that time.So we were waiting for a longer time to take a positions.
The Nifty has strong hurdle in 6100 level if move above 6112 the New rally may begin to touch new highs befor march 2011.One be alert full if remain in short in nifty above this level.
The Banknifty as we told in our earlier post find difficult to cross the 11770 level during closing it fell down near to 11640 about 100 points down from the days high.The lift up is happened due to the F&O closing..So the coming sessions the banknifty may struck in 11560-680 level.Once nifty cross above 6100 the banknifty also claim up to 700+levels.Today the banknifty spot broken down the 400EMA.So a down move also there if open gap down tomorrow.