Live Market

Monday, August 1, 2011

Banknifty View for 2.8.2011

As we stated one of our earlier post's when the Banknifty was trading in 11400 if it slide it can go down to 10760 and that is the last hope for bulls to come back..The Friday market exactly the Bn took support there and today it opened gap up in 11k+ and reached day high of 11075 and fell down to 10900 and again bounced to 990 and lastly traded in 940 level.

The Nifty also opend in gap up from its closing 5488 to 5544 and punched a day high of 5557 and fell down to same friday closing 488 and bounced again to 536 level.

Now the market expect the news from US Debt deaflt in the parliment.The Nifty one can consider short below 5555 and the banknifty will strong only above 11240 level belo this levels the market remain in side ways and consolidate.

Today we made 3 attempts and gained about 40 points in each attempts without sl hit.