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Friday, April 8, 2011

Banknifty view for monday

The banknifty today shown considerable weakness and the nifty shown a visible weakness today after it punched from 5700 to 6000 level.The nifty was too strong all these 2 weeks time and today it broke the 5855 and gone down to the days low of 5833 level.

The Banknifty made a low of 11665 from the days high of 11889.We mentioned in our earlier post when nifty was near 5380 it may touch 6000 and bn may go near 12000 level.The nifty done it but BN is failed to cross 11930 level.That too last 3 days it try to go up beyond 900 but failed in its attempt.Now banknifty is preparing a down move towards 11540 breaking this minor support breaking down may slide to 11330 level.The bull now have hope only beyond 11933 level and can consider long or below 11730 go short.

Today we made good trade and gained about 100 points in 4 trades.The Bn in sideways move almost a week that made us to gain all these week days a great gain about 400 points in intraday itself.

We Will update on sunday night the rest view after seeing the global trend.