Live Market

Tuesday, May 17, 2011

Banknifty view for 18.05.2011

The Banknifty beat all our expectation.The Banknifty opened today in 10880 level and gone to the high of 10938 and during the mid-session it showed weakness and done a unexpected twist.The 10800 level was well held several time but at last once it broken it slided down to a drastic fall.During the 2.30 session panic selling was seen and that pulled down Banknifty to the days low 10587 and at end it recoved about 100 points and closed at last near 10654.The day atp seems at 10737.

We made good gain in the opening and also sold near day high aand covered at 860 level.When it was trading near 850 we gone long and kept sl double sell at 821 that was triggered and our buy target at 742 was achived.Though we have saved our clients well we were recived so many people messages that they made loss and need our help to recover..We helped many to the extent possible by way of averging at every low and exited in 20-30 points and finally freed many out of loss.As a experienced trader+TA we have seen the Banknifty moves and knew how to mange and succed in trading.One need great skill and patiance to trade in Banknifty.It moves like a Bullet.You have to act fast and keep yourself free from all other activities while trading in banknifty.

We have reversed our long to positional sell now Bn will be strong only above 10855 level.Below it do not remain long as Nifty also trading near its critical support.If nifty break down 5393 level a free fall may happen in market.The Govt. is expecting the double digit inflation as the fuel price hike impacts.

Do not trade without sl.Always safe guard your capital with SL.