Banknifty View

Today banknifty and nifty shown weakness.The banknifty shown a punch of days high 11700 and days low 11590 both these two levels it was unable to cross after the market opening whole day it was moved like a snail and sideways in 620-50 levels.The Nifty made a day igh of5848.60 and days low of 5796 level.The nifty is still weak as it was unable to cross the 855 level.Hope this weak our market may slide down further.

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We made only two trades and won 52+20 points as a net gain in banknifty intraday.The banknifty move down to 11540 will add fresh selling pressure as it accelarate more positional sell.We were cautioning from 11920 level do not go long as we were holding positional short and today we covered partial in 11600 levels.

Banknifty view for monday

The banknifty today shown considerable weakness and the nifty shown a visible weakness today after it punched from 5700 to 6000 level.The nifty was too strong all these 2 weeks time and today it broke the 5855 and gone down to the days low of 5833 level.

The Banknifty made a low of 11665 from the days high of 11889.We mentioned in our earlier post when nifty was near 5380 it may touch 6000 and bn may go near 12000 level.The nifty done it but BN is failed to cross 11930 level.That too last 3 days it try to go up beyond 900 but failed in its attempt.Now banknifty is preparing a down move towards 11540 breaking this minor support breaking down may slide to 11330 level.The bull now have hope only beyond 11933 level and can consider long or below 11730 go short.

Today we made good trade and gained about 100 points in 4 trades.The Bn in sideways move almost a week that made us to gain all these week days a great gain about 400 points in intraday itself.

We Will update on sunday night the rest view after seeing the global trend.

Banknifty view on 8.04.2011

The banknifty today touched a days low of 11695 and bounced up tp 870 level it seems it is a kind of consolidation to move up again to the 12000 level.Below 680 it may move down.Today we made Net gain in banknifty intraday=+38 +33+48 points.

Now the nifty and Bn may try to bounce new highs if nifty stay tomorrow above 5940 and closing above this level may take nifty to 6180 level.Bn to 12120 level.If nifty close below 5870 it may slide down to 5740 level and again may sustain side ways.banknifty fall below 720 is weak and below 680 we can confirm weakness to sell and it may take support in 11540 level.Now the trend is sideways so we can not say anything firmly.