Live Market

Friday, March 18, 2011

Banknifty view for 21-03-2011

The Banknifty slided down from its yesterdays closing almost it gave up 50 points soon after the market opening at 10940 touched the day high of 10958.We have been insisting do not remain long in Banknifty.from the opening it fell down to 10800 level and was stand still there for a longer time.The day was choppy.The post mid-session the market started sliding down and banknifty touched a low during market closing at 10739.

We have sold banknifty in the opening and intraday clients we asked them to cover when we see near 86 points.We have done 2 trades only and made a good gain nearly 110 point without sl hit.We also gave a short for positional and covered the same when we see near 10740 level.

The monday opening is purely depends on the world cue's.Today Nifty gave hope to bears as it touched the days low of 5380 and unable to move beyond 5502.The weakness may continue in Nifty as it has multible support near 5220 levels.The Banknifty is weak below 10770 and it can move down another 300+ may attract buy if move above 10887.Our Market in macro view struck in side ways range, it is not giving any firm direction as of now.

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