Live Market

Wednesday, May 25, 2011

Banknifty View For 26.05.2011

The Banknifty today shown great weakness inspite of that it was somehow held well in 10380 level for longer time and due to the stoploss that was build seems to hitted many time and banknifty could touch the days high at 10439 level.We made swing trade between 10380 to 420 as it gave multible choices to trade.

The nifty was weak the whole day and touched a low of 5328 where us the banknifty was not broke down the days low 10350.We belive the nifty now has bottom at 5170 level and SBI broke down the 2200 level and that may lead the Bn further down.

The tomorrow we are facing F&O closing and the market is expected to bounce upto 10440 level and Nifty can go upto 5400 level.