Banknifty View for 11.01.2011

The monday the market players will be in better judgement(as 2 days holidays) of the future direction and what we forsee is a panic selling may be there in the opening that may lead banknifty to 10700 levels....This we wrote in friday after market closing- about todays market pre-view.

The Today market done the same. From the opening itself it attracts so much sellings and lot of running-down gaps seen in todays market.The Banknifty today opened in 11100 and touched a day's high in the middle of the session 11138 and there on start falling in one direction and made a day's low of 11664.About 474 points difference from low to high.

We sold in the opening and made good gain overall in intraday with a conservative trades.We have done 4 trades and 1 sl was hit about 20 points other 3 trades we made a net gain of 146 points.We actually told our clients to sell near 10800 and gave a tentative target of 10690 level. but once , seen 50 points+ profit we booked profit and was sitting tight for a longer time to retain the profit we made.

The Banknifty today brokedown the '200DMA'.The inflation factor and the FII's selling and the expection of intrest rate rise all slow down the banks growth and more selling was seen.

The Nifty made a days low of 5746.00 from its high 5924.70 level.Technically we feel the nifty may find support in 5700 level and prepare itself for a pull back rally.The banknifty may take support now in 10280 level and bounces up to 10800+ level.We need to observe another few sessions to confirm this.Till that time, do your intraday trading with proper SL.

Banknifty View for 10.01-2011

Today the banknifty opened in 11215 and fell down.we sold around 11200 and place buy at 11116 and bought.we made today almost 6 trades and succeded in 4 and made a net profit of 145+points.The whole of this week we made an average of 65 points each day and over all 5-daysX 65-points=325 points. it is a net gain(only today 2 sl-was hit).We made a very cool trade and sail the ship very smooth.It is our utmost responsibility to lead all our clients bettter whether they are small clients or big .Our prime motto is to make every one to make money with our supports.

Today banknifty in the mid-session shoot up sharply as the panic buying/short covering seen and it brokes all earlier high's and touched a new day's high 11324.But last one hour again it shown weakness and during closing it touched new day's low ie.- 11040. and lastly traded in 11050.

The banknifty almost slided 1000 points about a weeks time and also closed very weak.The nifty also broken the status quo 6000 mark, that is an worring sign.The monday the market players will be in better judgement(as 2 days holidays) of the future direction and what we forsee is a panic selling may be there in the opening that may lead banknifty to 10700 levels.The other possibility is if, move above 11300 there is a mild hope for recovery or else its slide further.

Banknifty View For 7.01.2011

Banknifty traces back to 11400+levels.One must be catious if breakdown 11210 level it is critical and may drastically fall down another 400-500 points.Now Banknifty trading needs trict SL for both long and short. >>This is what we wrote in our yesterday post about preiview of todays market.

The Banknifty took up in the opening and toched a hihg of 11440 and fell sharply.We sold it when it was sliding and place buy at 316 but 50% covered near 350 considering safty first and rest covered at the target.The banknifty fell down another 100 points and touched a days low of 11222.00.We mentionted the 11210 is a critical support and breakdown may weaken this index further down another 400/500 points.

So we expect a minour pull back may be on card for tomorrow session.it may try to float above 11300 level and trades in sideways.One must be watchfull and keep a relavant SL for each trade one may do.A fall down to 11210 one can initiate short with sl above 11260+ and can hold short for 10980 level.