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Friday, April 15, 2011

Banknifty View for 18.04.2011

The Banknifty in wednesday done a complete U turn and closed above 11900 after touching a low near 11500 level and about 400 points jump.It closed in 11903 and todat it opened in 11900 and touched a days high of 11996 and days low of 11740 level.After it opening in slide down to 834 and gone up to 870 lvel where we sold and kept our SAR in 914 level.It came down to 840 after we sold but we gave a target buy of 812 and it triggered our sl at 914 and gone to 940 and came down again to 870 and went up to 996 level.

Net gain in banknifty intraday today we made is =-37+42-18+44+32 points and we sold thrice in 940 level and bout it in 888 and third time we covered soon in 910 but it went down to 790 level.Some how we were in short almost all the time but covered it soon.or we would have made 200+points any way gaining is more important than loosing.

The banknifty was stronger today than Nifty when Bn gave up the nifty also slide to alow of 5820.the day high Nifty punched was 5923.80

On Monday the banknifty will go down if open down to 11792 level.Above 840 one can go long.The 11500 level it didnt stay longer time so it may come down and again consolidate some more time.The Nifty above 5940 will confirm rally.below it may show sideways trend for a weeks time.

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