Banknifty&Nifty View for 23.12.2010

[ The Nifty touched the days high of 6019 and in 1 point it missed and lastly traded in 6014.90.It would have crossed this level today but failed in it,this may showing as tomorrow the nifty may weak or gap down opening. As the headging players are huge the Nifty faces hurdles on both sides.The market now in a kind of Transition Phase from bears to bulls.

Banknifty Now in its bulls run and may go near 11700 level if sustained well near 11680 about 1 hour or more it may move up to 11800 level.]

This above, we wrote in our yesterdays post about market today...today performance became almost close to our views.

The banknifty opened today near 11600 level we bought and placed sell at 679 and when it struck in 650 level we booked profit in 648..but it went to the days high of 11679.80.There on it fell slowly down to 11600 level where we sold and bought in 517..made 4 trades and 1-sl got triggered.overall we made around 70 points gain.

Today the market moved like a SNAIL as this caused the tuzzule between Bulls Vs Bears.The nifty came down to 5970 level and banknifty down to 450 level.

In our view the Nifty may sustain side ways as many wise people done so much hedgeing.if tomorrow move above 6030 level then the bulls take full control overl all index's.The banknifty may find down support at 11330 and trade up to 560 level.Above 11660 it will be strong up move upto 11720 level.

Banknifty View for 22.12.10

In our view the banknifty may open in gap up and try to rush up to hit the 11480 level..

This is what we wrote in yesterday's post about today market.That became true.That was happened today from the opening 11329 level it rose to 11480 in no time and sustained a while again good consolidation seen then took up to 11600 levels.

Today we missed a golden chance as we took long in the opening itslef and booked profits so soon...but the market touched the high of 11613 level and lastly traded in 11574.Our attempts of short in 570 level gave us little gain twice but at last we went short and covered it at marginal loss.We told it find difficult the cross 11480 level, but today banknifty shoot up as the nifty was witnessed huge buying.

In our view the Nifty will be very bullish beyond 6020 level..The Nifty touched the days high of 6019 and in 1 point it missed and lastly traded in 6014.90.It would have crossed this level today but failed in it,this may showing as tomorrow the nifty may weak or gap down opening. As the headging players are huge the Nifty faces hurdles on both sides.The market now in a kind of Transition Phase from bears to bulls.

Banknifty Now in its bulls run and may go near 11700 level if sustained well near 11680 about 1 hour or more it may move up to 11800 level.

Banknifty view for 21-12-2010

The banknifty may find difficult to cross the 11740 level.One can avoid long near this level.Once it cross the 11800 level it may act very bullish.In my view the banknifty may fall down from it 11600 level to 11400 level and trade side ways...if Nifty go beyond the 6020 level banknifty may move up aggersively...>> This is what i wrote in my friday's post.The banknifty opened today gap down in 11400 and fell down considerably..to 11274 level and again bounced up and crossed the day high 400 to 11444 and fell down to new days low to 11260 and that was the days low cum last traded price.

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We made about 147 point gain in intraday banknifty trading.In our view the banknifty may open in gap up and try to rush up to hit the 11480 level..if fails to move above this level again it may fail the bulls hope and fall down upto 11160 level.Now this 11170 area seems a critical support and broken by any means will add panic selling.

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Today Nifty opened in gap down at 5900 and able to touch a days high of 5999.That shows the bulls are ready on the shore to catch the fish.Be watch full in 6020 level market may zoom up..Avoid shorts when cross this level.

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