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Friday, October 7, 2011

Banknifty view for Monday (10-10-2011)

The banknifty and nifty almost done our preview.The previous post we wrote when banknifty was trading near 9300 level we wrote it will fall near 8500 levels.yester day the low it touched was 8637 and nifty aso came down to 4725 levels.many follower of thsi site has made handfull we read thiers mails.

we covered our positinal shorts yesterday and and sold the same in today near 9130 levels and covered the same in 8940 level.The intraday swing trade also we made about 80 points without sl hit.The octber month as of now we made about 700 points in intraday itself in banknifty future.Nifty also we made swig trades and made good gain.

What next?
The banknifty today opened in gap up due to the globals cue's and we still have bearish view on banks as it fall further.In one day due to the world market Bn opened about 200 points high...i dont think over night the Bn has attained that strength?? in technical view the banknifty may fill the old gap during the 2009 election gap up..that is the 8300 level.So every rally exit your longs and add fresh shorts.

The nifty now attarct selling below 4875 levels.In 4930-50 area one can sell with proper sl.The proposed down fall can be 4760 levels.