Live Market

Thursday, March 10, 2011

Banknifty view for 11th march

The banknifty Future was very much intact in a narrow range in the last 4 days.The trend prediction was very easy and even a new traders can do trading well just follwong the trend.The usuall chram or the aggression was missing yet it gave alll of us a good opportunity to gain profits.

In our yesterday post we wrote...'the Bn was unable to touch the 11120 level.It shows if Bn fall down to 10900 tomorrow it attract much selling and may slide down.If nifty is well trading above 5540 it may face hudele in 5620 level'. The banknifty was opened in gap down near 10920 and we sold it expecting it will fall down and place buy in 10788 and when it came near 10850 we covered 50% short(intraday) and covered the balance 50% in out target price 788 and after wards we bough in 780 frsh and sold in 804 and kept ourself away from the market.As we expect to gain reasonably without greed&fear and kept our profit that was made in intraday.The Net gain In Banknifty Intraday we made was > +63 +34points+22.Its done without any SL hit.

We feel the Nifty still not giving any firm major fall/up trend so any preview about Nifty now may go wrong.The prediction at present is waste of time.The Banknifty in our view remain weak and fall further down.