Live Market

Thursday, May 26, 2011

Banknifty View for 27.05.2011

Yet One another fruitful day for we made good gain nearly 180 points in Banknifty intraday alone.TheIntraday Banknifty gain is +41+42+37 points+52+30 points gain in june Banknifty.How we made this possible!! The market is favoured us very well as it was quit predictable and we forseen things in advance and without any sl hit we achived this.Though the market went up we sold at every peak and covered the same way and when it bottomed near 10370 we covered all shorts in may and sold in jun and there also we could makeitwo trades successfully and fnally squered all our position with 180 points+. One can observe the above chart we were expected this eratic upmove due to f&o closing and the fall there after and a rise at last.

The banknifty touched a days high of 10498 due to the f&o closing and gave up all gain and came down to 10370 level and raised to 10470 level.Where as the JUNE month Banknifty touched a days high of 10452 and gone to the low of 10293.this give us a negative bias.The june month trades in discount and the spot is still in premium.The weakness of SBI seems to continue further to 2070 level.

The Nifty gave little hope and touched a high of 5414 and lastly traded well above 5400 level.If tomorrow nifty open above 5440 a chance to move up again upto 5520 level.if open below it on can consider short.