Live Market

Wednesday, July 27, 2011

Banknifty View for 28.07.2011

Today the market made a lack luster..We just made in intraday trade and made intraday gains as usual and skipped any position as the tomorrow market may face volatility as the F&O closing..So better trade mild/conservatively unless you find a firm direction.

In today the Nifty and banknifty made a struggle to move up as the selling pressure was pushed it down and trader were afraid of long as the market yesterday threatened every one.Today the Nifty opening and high was the same..The Nifty was not able to cross the 5590 level..So its a selling area as of the trend now..May be it attract buy above 5640 level.Banknifty above 11240 only we can expect a relief rally/retracement.

We also need to consider one thing the yesterday running gap down was unfilled and may be after f&o closing the market attempt to do "island of reversal." so trade with SL.