Live Market

Thursday, March 31, 2011

Banknifty View for 1.04.2011

The tomorrow the F&O closing and the long roll over may not be there as every one wish to book profit here as the index are in recent peaks.Today we exited all positional longs in 11800 levels.This is what we wrote in our yesterday.The profit booking was seen today in Nifty and Banknifty.

The Banknifty today touched the days high of 11900 and above it it found difficult to cross over and in the afternoon session it fell down sharply to 11600 and then during closing time it again went down to 11580.Luckily we booked positional long profits yesterday and today gone positional short and covered the same shot partially when we saw 11600 level.

The Nifty was strong enough today and able to touch the days peak of 5879.75 and due to the bank index weakness Nifty too came down to 5799 level.The nifty now easily cross the 6000 level if hold above 5700 level and Banknifty is turned to positional sell and weak below 11680 and strong only above 823 levels.One can avoid fresh longs and consider shot with sl.The BN has many gaps left unfilled and expected to fill soon.As the Finacial year end the market may be gone high to show good NAV/Results for many institutions/MF!!! So now time to anlyse and observe the market another week to predict further.

Todays wisdom

"Before you speak, listen.

Before you write, think.

Before you spend, earn.

Before you invest, investigate.

Before you criticize, wait. ...

Before you pray, forgive.

Before you quit, try.

Before you send, read.

Before you die...........Live."