Live Market

Wednesday, August 17, 2011

Banknifty View for 18.8.2011


Last few days we have not updated our blog due to the past prediction we have with proposed targets.We gave a red alert and short in Nifty and banknifty when it was trading near 5200 and 10470 levels respectively.Today we are happy to share our banknifty future target 9870 is done and nifty touched a days low of 5014 and it will fall down to our target 4953 levels on the coming sessions.

The day was expected to open in gap down,but in contrary to my expectation the market opened in gap up and gave up all the gains and fell down steeply.The Bn touched a days low of 9855 from 10191.Nifty from 5125 to 5014 and lastly traded in 5065 level.As i see the Nifty option premium was swallowed...may be its a pre-planned move by operators.Avoid buying high premium options.

Today we made a sell in the opening high near 10180 levels (Day high was 10191,Day 'slow was 9855) and made about 200 points in intraday itself as it gave us so many swing trades.The positional short we almost covered 75% as the 9870 target was achieved...once covered, it shoot up to 9990 we sold it again and now holding 25% of the short.This time many our blog readers made good jackpot gain apart from our paid clients.

Now the banknifty may tend to move in sideways but Nifty has to show some more downwards move towards 4950 level.The further follow up action will be posted/planned according to the Global cues.

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