Banknifty View for 29.12.2010

The banknifty yet another day crawled like a snail.The high made was 11510 and low was 11430..A very narrow range about 80 points.We attmpt 2 trades and made 70 points gain without sl hit.We does only very conservative trade today as the market tussle between bulls&bears.The F&o closing is very close by so the roll over and the year end profit booking made market in a kind of shallow moves.

So,Considering all these it may trade in sideways till f&o closing..but on thursday be watchfull as more roll over come it may act eratic.Our view now is the banknifty broke down the 11440 level and touched 11430 but the selling volume was too low...so a chance to move again up to 11570 level.Above 11600 now it become strong bull zone..now weak below 440 with volume and trade in 15-mins or more brings panic selling that may push it down to 11280 level.

The Nifty seems powerless and give no firm direction on either sides.its locked itself by hedgers heavily.

Banknifty View for 28-12-2010

The Banknifty Move today was like a snail crawling.We made gain in banknifty intraday about 70 points+ 40 points in intraday trading.The Banknifty held in sideways move the high made today was 11570 and low was 11450.The 11440 seems now a kind of support breaking down may lead to 11330/280 levels.On the upside it has strong hurdle in 11660 level, so it may swing sideways between 440 to 660 on the coming session

The nifty may weak below 5975 level.Today the nifty shown weakness and fell down to the 6020 level if tomorrow move above 6060 only confirm a firm trend reversal.The FII's buying seems to continue and may pumb another 5 billion dollars into our market.So the value buying is on the rise that may lift market once again.

Rs 5 lakh crore Corpus Investment in Stock Markets

Rs. 5 lakhs crore Corpus Investment in Stock Markets:-

This News triggered Sharp unexpecd bounce up Today.

The finance ministry has shot off a fresh missive to the labour ministry asking it to invest a part of the Rs 5 lakhs crore corpus of the employees’ provident fund savings in stock markets. This is a good symptoms for longtime investors.

We will post banknifty view on sunday night.