Live Market

Wednesday, June 22, 2011

Banknifty View for 23.06.2011

The Indian economy or the market both seems a kind of slow down!!The market today behaved back to normal.The whole day it was in between the walls of a tunnel.We made a conservative trade and gained about 90 points in 3 trades each trades and also holding shorts in Banknifty.We expect the banknifty may slip down to 10300.Today it opened in gap up but the day high 10561 not much trading traded well below 530 level and not able to stand still above 10541 level.This level the banknifty resist as the selling start pouring in.The banknifty touched a low of 10445.We gave a target at 448when we sold near 500 and it really tested our patience longer time today as it was crawling in side ways finally this target was done.

Our Nifty positional clients are still holding short from 5610 level.We also done many swing trade and made nearly 450+ points already in nifty and still holding partial short for expecting a fall near 5130 level.The Nifty today was broken out its day high and break down its day low..and the premium now shrunken that indicates weakness.

There are many value buy in stocks can be done at this level..One can visit our SEED site to know further about value buy and our stock selection.