Live Market

Monday, June 13, 2011

Banknify view for 14.6.2011

The Banknifty opened weak and slides to days low of 10602 and shoot up sharply to 10700 level and touched a day high of 10765 level.The nifty also made a low of 5437 and touched a days high of 5511 level.

This up move was expect as both these index are filled the gap.We would like to insist the nifty and banknifty gone up in sideway market it has done a exhaustive run up and the BN&Nifty is still seems weak as the selling pressure in nifty was too heavy today.The Nifty has so many hurdles in 520 and 545 area so the upside move is limited we need to observe few days as the trend now may be side ways.

We made good gain in Banknifty intraday about 80 points and STBT shot also covered where we made around 60 points in addition to todays trading.

We would not suggest fresh long at this level one can consider short with SAR-5540