Live Market

Friday, July 8, 2011

Banknifty view for MONDAY

Today the market witnessed a huge selling pressure after a hesitant gap up opening.We just booked profit in our yesterday long in banknifty and also sold Nifty fresh near 5750 and covered the same near 680 level.We have made good day trading in Nifty,banknifty.When Bn touched first time low near 11390 we bought and exited in 330 and also fresh sold in 11330 in the after noon session and gave a buy target of 334 and that was archived.many our clients we advised to cover near 370 level.Over all our baskets were full.

In yesterday post, we stated , we have skipped remaining long in nifty however it seems bullish.Today it witnessed a huge selling and from the opening high 5760 to days low of 5661.Many readers mailed us ,Are you not bullish in Nifty??? after reading the post.Today the market proved our preview clearly.

The Sbi also, We gave sell calls in every high and it was manipulated and gone from 2460 to the high of 2525 and fell back to 2480 level.Many new bee's those come to market without having proper knowledge to the market,the market swipe the capital itself if they get caught on the wrong side.We have a different approach as the market gave a good lessons year after year and that only made us to guide& lead our clients better.

If the Nifty trade below 5672/703 dont attempt longs in can fall back to 5616 level.the 616 and 605 act now a support.below that it can slide down to 5555 level.The Bn now weak below 11392 and today it touched the days low of 300 and lastly traded in 11320 level. One can go short with Sl at 11412 and expect a target of 11,117 level.

The rest view will be updated in sunday night..

Happy week end to all