Live Market

Tuesday, August 23, 2011

Banknifty view for 24.08.2011

The last two days the Nifty&Banknifty witnessed a great gos down to a deeper low's and bounce back to days high..We had a very great intraday trade in last few days and gained well.

The Nifty&BN the major trend is still down.the bn can bounce up sharply only above 9620 level..below it can go down to 9030 level on the coming days/week.The FII"S are selling and today they sold nearly 100cr where us the DII"s bought about 300 cr.That only the market shown some pull back. Avoid fresh positional longs the trend remain down except the small pull back.The banking stocks were beated continusly so be watch full of buying those stocks.

The Banknifty is weak below 9434 one can consider short and it may get into panic sell mode if, fall below 9275 level.Now it can move up to 9540 level than it may fall again.Due to the F&O settlement on 25th the market showing volatility.