Live Market

Thursday, March 17, 2011

Banknifty View for 18.03-2011

The banknifty closed yesterday in 10965 but today it opend in gap down at 10879 and did'nt give much buying chance as it shoot up immidiately to 10920+ level and gone to a days high of 11049 level.Around 12-pm the mid-market hours the nikki fell down and the indain market too fell down sharply and the Bn touched the day low of 10861.
We made conservative intraday 3 trade and made about 100 points and also attempt a positional sell in 11020 level and covered the same in 880 level.
The Banknifty was struck in range bound and it gone to higher higher(11049) from yesteday days high (11023) and not broken down yesterday low that was 777.In our view if Bn fall now below 10770 may add fresh selling and slide down to 10440 level.if by chnce as per the world trend move up above 11110 it act bullish...but one need to observe for going fresh long atleast 1 hours.As it may act technically over bullish above 11200 level to 113380.The Nifty still seems weak and struck in range bound.