Live Market

Tuesday, April 19, 2011

Banknifty View for 20.04.2011




We wrote it in our yesterday post the below..


Now The banknifty may take support in 540 level and try to cross 11640 level if move beyond it,it may turn little bullish upto 770 level or the market remain weak and sideways.The nifty made a day high of 5920 and the day low was 5727.Almost 200 points down in a single day.The Bn was about 400 points down from its day high.The banknifty was lastly traded in 11593 and was not able to cross 11600 for more then 30 mins.As we noticed there were not much fresh buying seen today yet tomorrow it may open gap up and slide down.
One can consider long in banknifty if move above 11770 level or go short with proper SL near 11805
.



The banknifty made a days low of 11675 after it went down to the days low 11512 from the opening it zoomed up then fell down.Today the Bn gave multi trading choices for the day trader.We attempt 4 sell's and 1 sl hit out of it for 18 points.The Banknifty net intraday gain we made was +37+62+29 points.



The Nifty today was traded in side ways above 5700 level and seems stronger.The Bn also during the afternoon session was gone up and seen good consolidation.So in our view the Bn may try to jump up above 11700 level and there on it attract fresh buy and may move upto 11830 level.Now it is weak below 11604.One may go short with SL.This week the nifty may touch 6000 level may possible as per the tech view.

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