Live Market

Friday, May 13, 2011

Banknifty view for 16.05.2011

The banknifty now preparing itself for a relief rally and can go up to 11440 level at ease.Today Banknifty marked days low at 10812 and gone to the high 11203 and during 2.30 to 3pm fell down ro 11020 level and lastly traded in 11065.Though it came to 10800 level the retracement was good and fast and today there were huge buying seen in banknifty.

Last few days we were unable to update due to some blog might be some server updation done by blogspot.

The Nifty also shown good rally today and traded well above 5560 level and touched the days high of 5622.

The banknifty came down to a recent low from 11950 level to 10760 level and last many days it trade well above 10850 level and consolidated good enough and today the nifty was lifted up by banks only.During closing around 11200 level today the short term/intraday profit booking seen that shown a pull down about 100 points as the selling pressure was more due to partial/full profit booking.We have gone positinal long in 10800 level and hold our position for the target of 11420 level very soon.

The individual/anybody follow this site need to take their own decision for trading as we only state our views here.We can not claim we are the best but our intention is to help people who is actively trading in banknifty.The banknifty is one of the highly volatile index's and one can be through and need to know the depth before trading.New bees please learn before venture into actual trading and understand the risk involved.