Live Market

Friday, February 18, 2011

Banknifty where it leads to?

The banknifty future today opned in gap up about 20 points from its previous closing and touched a days hig of 11279.70 from there on it shown great weakness and slowely fell down to 11180 level.The Nifty also was in very tight range in the opening near 5560-80 level and not much buying seen there.Instead there were lot of selling+profit booking seen and nifty also came down gradually.During the afternoon session both Nifty and banknifty felldown sharply.The BN gone down about 200 points and touched a low near 10900 fro 11279( nerly 380 points down from the days high.

Today from the opening we made conservative sell again and agin and covered in near by target and out of 6 calls, we succuceded in 5 and 1 sl hit for 10 points.The net gain we made Net gain in Banknifty Intraday>-10+30+24+34+40+38 points.There are few HNI's client of our made more than 300 points without sl-hits as per our guidance.

The Nifty Now find support in 5330 level and banknifty may find support near 10760 level down to it it may agin go near 10,000 level.If open above 11030 and sustains there may be a slight jump upto 11200 level.The Monday market we expect more eratic/selling will be there.

Our aim to make 50 points gain in banknifty intraday for all our clients and we have been doing that and many time we limit our calles when market play tricks.Today too, during closing we were kept ourselfs away from markt by sitting tight to avoid or getting/ caugt into the closing jerks.