Banknifty View for 26.04.2011

2. 5-days chart

1.Intraday chart

The banknifty today touched a days high of 12025 and came down to the actual days low at 11917 but the opening punched was shown at 11890.That was the days low.Today the Banknifty was moved like a SNAIL...in sideways between 11950-80 for longer time and day was boring for the active day traders.

In the above 2 charts we have 1 is intraday and the 2 is the week chart(5-days).In the 5-days chart the Bn shown few gaps left unfilled.This week it will try to fill this gap before it move up firmly.It actully zoomed up from 11620 level with so many running gaps.Mainly in 630-8- and 780-840.If the Bn break todays low's 11890 tomorrow it may slide down to 11730 level.Above 12020 it can claim upto 12180 level but the nifty now face hurdle in 5940 level.So one can go short in nifty with sl at 940 and Bn with sl at 12032 level if the opening is near 11940 level nifty in below 5920 level.

The Nifty was well consolidated in this level and may prepare itslef for a fresh rally from here.There are so many value stocks avilable for best buy which are ready to zoom.