Banknifty View For 16.02.2011

The Banknifty today done a opening punch at 10850 and traded in 10820 level then fell down to 10696 that was the days low and from there it slowly moved up and touched a new day's high 11010 and lastly traded in 10933.The pull back rally is nothing but an pre-budjet expeation that made the market to zoom up.The Nifty found hurdles in its upward move but firm and touched the days high of 5504.00.

We have done opening sell at 10820 and gave a target for buy at 10717 and it was achived in 15 mints time.We made very conservative trade and gained.

Now the Nifty has res at 5510 and the 5397 as act support.

What do we expect from market now?

The tomorrow our market is going to witness uge volatality as the prime minister is going to attend the JPC probe meeting at 10 am ...so after the news in media the market may swing either sides.

The Nifty and Banknifty continiously moved up the last 3 days and touched a peak.The Bn is about 1000 points up from friday's low so the positional/longs profit booking comes as it at little selling and also the fresh selling may be there as there are so many resistances the nifty has now in its up move.The Banknifty now find hurdle or may not cross the 11046 level and the downward move down to 688 will be add more selling pressure.So it may sustains in side ways in narrow range.

Banknifty View For 15.02.2011

The Banknifty today opened in wide gap up,although its punched 10505 the opening trading was seen above 10580 level.From its opening it sustained well and moved slowley towards up&up and touched a new days high at 10809 during the market closing.On the other hand, in a similar way the Nifty was very strong and touched a day high of 5467 from the 5346 opening level(136 points from low to high)The BN moved one direction about 300 points from its today opening.

.Lets See the last 2 days Move of Banknifty:-

The friday The banknifty opened in 10100 and day low was 10080 today it touched a day high was 10809.

.Within 2 days it gone up about 730 points.

why this certain 'U'turn and what made the market stronger all of certain?

Doosra is a delivery used by off spin bowler to deceive a batsman.
In fact it is the delivery to confuse the batsman where the ball spins from the leg side to the off side.

On Friday, the market reacted as per our expectation and we think that it is a technical bounce back. Hence the present market condition may be termed as the Doosra and if you get in to it you may be bowled out by the bears.

.What to expect from the market now?
The up move may continue but the nifty may find it difficult to cross 5500. Bears may take control of the market shortly and the present rally is called a relief rally which could fizzle out anytime. It is the time to wait and watch the nifty levels rather than to buy anything.

.The Nifty now moved beyond 5440 and sustained well above this level and Bn is well sustained above 10770 level.If tomorrow open above these level it move another high to test te chaneel resitances and Nifty has so many urdle on the up move.We do not suggest fresh long at this level as stated above this is a relief rally we need to consider the nifty move above 5650 is seems to a really rally confirmation.The BN will face hurdle now in 10830 level.

Banknifty View for 11.02.2011

Today We made good gain in Banknifty by shoting almost 5 times and gained 40+points as an average each time.We just wait for one rise and sell and buy..gave so many chances to make swing buy&sell but we made very conservative trade.Many our clients made beyond 200 points all made near about 120 points+.

The Banknifty today opened in mild gap down in 10116 level and touched a days low of 10030 and in the after noon around 240 pm it zoomed in no time the days high of 10273 and fell down to 10070 level.It happened as many would have sold as the down trend is visibile to all and placed SL here and there ...and all Sl would have hited and the pendulam were swang up and down and made the market to attain stability in the end.

The Nifty more than 3 time took good support in 5210 level and shoot up.The day's low was 5210.30..The tomorrow market if Nifty go beyond 322 level there may be a minour pull back ...if move beyond 5555 only we can consider the correction will be over or it crawls like this in some more time.

The banknifty now fall down to 9920 level and may take support and go upto 10340 level.Anything above 10440 will take it to further high and become strong or will be choppy and down will be faster than our expectation.