Live Market

Wednesday, June 1, 2011

Banknifty View for 2.6.2011

The banknifty today opened in marginal gap up and showed weakness it fell down to day low of 10851 and during market closing it jumped up to 10955 level.The opening it showed the punch of 10984 but trading was not 10920 level it was trading for longer time and the end it showed the exhaustion gap up.Actually the day was very choopy.

The Nifty was touched a day low at 5545 and during closing it jumped to 5592 level and marked a days high of 5594.The nifty now has strong hurdles in 5605 tomorrow one can go short if nifty open down to 5580 and your SAR must be at 5612.The Banknifty is in my view weak and expected a due fall any moment.Technically it can claimp up to 11080 level as per todays closing.Today the panic short covering only took it one can avoid fresh long at this level.