Banknifty View for 26.04.2011

2. 5-days chart

1.Intraday chart

The banknifty today touched a days high of 12025 and came down to the actual days low at 11917 but the opening punched was shown at 11890.That was the days low.Today the Banknifty was moved like a SNAIL...in sideways between 11950-80 for longer time and day was boring for the active day traders.

In the above 2 charts we have 1 is intraday and the 2 is the week chart(5-days).In the 5-days chart the Bn shown few gaps left unfilled.This week it will try to fill this gap before it move up firmly.It actully zoomed up from 11620 level with so many running gaps.Mainly in 630-8- and 780-840.If the Bn break todays low's 11890 tomorrow it may slide down to 11730 level.Above 12020 it can claim upto 12180 level but the nifty now face hurdle in 5940 level.So one can go short in nifty with sl at 940 and Bn with sl at 12032 level if the opening is near 11940 level nifty in below 5920 level.

The Nifty was well consolidated in this level and may prepare itslef for a fresh rally from here.There are so many value stocks avilable for best buy which are ready to zoom.

Banknifty view 21.04.2011

The Bank nifty moved up as we stated...in our yesterday preview like this below:-

The Nifty today was traded in side ways above 5700 level and seems stronger.The Bn also during the afternoon session was gone up and seen good consolidation.So in our view the Bn may try to jump up above 11700 level and there on it attract fresh buy and may move upto 11830 level.Now it is weak below 11604.One may go short with SL.This week the nifty may touch 6000 level may possible as per the tech view.

The Banknifty opened in gap up above 11700 and today it touched a day high of 860 level.The nifty also opened abobe 5800 and touched a days high of 5875.The trading today was mixed as the it gone up and came down and during the closing it went up and touched a day's peak 11860.

Tomorrow we expect profit booking in nifty and Bn and the day after tomorrow the market is holiday and hence no one prefer 3 days over night position.So the market may slide down to 11700 and nifty may come down to 5800 level or it may trade sideways.Avoid fresh longs.

Banknifty View for 20.04.2011

We wrote it in our yesterday post the below..

Now The banknifty may take support in 540 level and try to cross 11640 level if move beyond it,it may turn little bullish upto 770 level or the market remain weak and sideways.The nifty made a day high of 5920 and the day low was 5727.Almost 200 points down in a single day.The Bn was about 400 points down from its day high.The banknifty was lastly traded in 11593 and was not able to cross 11600 for more then 30 mins.As we noticed there were not much fresh buying seen today yet tomorrow it may open gap up and slide down.
One can consider long in banknifty if move above 11770 level or go short with proper SL near 11805.

The banknifty made a days low of 11675 after it went down to the days low 11512 from the opening it zoomed up then fell down.Today the Bn gave multi trading choices for the day trader.We attempt 4 sell's and 1 sl hit out of it for 18 points.The Banknifty net intraday gain we made was +37+62+29 points.

The Nifty today was traded in side ways above 5700 level and seems stronger.The Bn also during the afternoon session was gone up and seen good consolidation.So in our view the Bn may try to jump up above 11700 level and there on it attract fresh buy and may move upto 11830 level.Now it is weak below 11604.One may go short with SL.This week the nifty may touch 6000 level may possible as per the tech view.