Live Market

Tuesday, May 24, 2011

Banknifty View for 25.05.2011

The Banknifty today touched a day high of 10521 as i wrote in our yesterday's postit can claim upto 10600 level.It showed a opening punch low at 10330 and that was remaining the days low all day.It traded down upto 10354 level.Today we have followed our own IRM Trading plan and made good gain without sl hit.We sold in every peak and covered at every low.Intraday Banknifty gain we made today was 42+28+36+44 points.

Today Nifty gave little hope as it gone to the days high of 5417 but unable to sustain as it slides down and touched a days low of 5360 when Bn was moving up.The Nifty may weaken further down to 5160 level very soon.The Bn may claim up tomorrow as SBI is in its new year low and expected a bounce in sbi upto 2300+ level and Bn may lead a pseudo up move for the time being like today it gone to 10521 level.One can go short at higher level.If Banknifty open above 10460 avoid short.below it just try short for a 100 points down move.

Trading is an art.
One need to float on the surface never ever sink in the need skill to surf on top of ocean waves. Do not carry your prejudice and expect market to follow you,rather you follow market along with it pulse and surely one can win.