Live Market

Monday, April 11, 2011

Banknifty View

Today banknifty and nifty shown weakness.The banknifty shown a punch of days high 11700 and days low 11590 both these two levels it was unable to cross after the market opening whole day it was moved like a snail and sideways in 620-50 levels.The Nifty made a day igh of5848.60 and days low of 5796 level.The nifty is still weak as it was unable to cross the 855 level.Hope this weak our market may slide down further.

We made only two trades and won 52+20 points as a net gain in banknifty intraday.The banknifty move down to 11540 will add fresh selling pressure as it accelarate more positional sell.We were cautioning from 11920 level do not go long as we were holding positional short and today we covered partial in 11600 levels.