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Friday, March 4, 2011

Banknifty View for Monday

The Banknifty and Nifty today opened in gap up but failed to maintaing it status quo as it came down during market closing back to near yesterday closing.The Bn touched the day high of 11155 and came to the days low 10919.We made 3 sell attempts and succeded in 2 and gained nearly 100+points in Banknifty.We also instructed positional traders to sell in 11110 level and just asked them to place buy in 10934 and our target was achived.In one stroke we made 175 points.
What Do We Expect Now?
As we wrote in our yesterdays post the banknifty fell down due to the gaps left unfilled in between.Today though it opened in gap up but that gap was filled today intraday itself.The major previous old gaps from 10443 to 10560 level is expected to fill soon or latter.The Gaps will be filled as if, the water that go's faster towards the lower level/dig whole. The BN is weak below 800 now and may touch 10330 level soon.

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