Live Market

Tuesday, June 21, 2011

Banknifty View for 22.06.2011

The Banknifty and Nifty was it fooled everyone today from the opening 10549 it fell down to 520 level and from 540 it consistently went up again and again and touched days high of 10679 was showing technically buy but we sold right from 560 to 750.Sell on every rise as we know the market is foul playing.We covered one buy one our short's when it fall down...last short we were holding and finally covered with profits..In no time the Bn fell down to 10445 level.We missed more than 100 points in addition to the normal gain.The positional short again we made in 620 level and placed buy in 448 that was also bought surprisingly.

The Nifty today was seen buying and that only made it to touch 5320 level.The opening high was shown at 5371 but we have not seen it was traded in that level.

The Europe region is still not in a good state economically.The Greece bailout was done by the help of German and UK...But still the Europe union may face adverse economical crisis.

The market now try to hold itself from a free fall.Avoid fresh longs also don't go short at the lower levels.The next month banknifty and nifty still trading in higer premium and the F&O closing is nearing so play safe.