Banknifty View for 19.05.2011

The banknifty and Nifty seen genuine selling pattern due to the SBI fall about Rs.300.Now it trades in 2350 level.The SBI result was not bad actually .The SBI in Banknifty intex weightiness is high and that gave so much impact on banknifty fall.

Today in the opening we sold near day high 10682 level and gave a buy target at 10533 that was achived and that was exactly happen to be the days low.Today we made 4-intraday trading and gained 110+ points.Few trader who trade both intraday&positional made 250+points profit today.During the afternoon seession we sold in 10615 level and kept our sl at 633 luckilly that was not triggered even thoug the bn traded upto 644 level.We bought it in 571.So today our calls are 100% success.It is good day the market was in our favour and all our clients gone home with pocket full money.

Now we need to observe the Nifty move as it trades in its critical support level.Today it touched days low of 5397.60.The 393 seems support now...down to it,it may fall free.Now there is a chance for steep reversal too.

However one may be technically sound one need to have great quality to sense the ongoing market pulse.That only make a trader to a true winner.Have passion for each and every trade you may make.Do not trade for other but trade with your own guts.that helps a lot.

Banknifty view for 18.05.2011

The Banknifty beat all our expectation.The Banknifty opened today in 10880 level and gone to the high of 10938 and during the mid-session it showed weakness and done a unexpected twist.The 10800 level was well held several time but at last once it broken it slided down to a drastic fall.During the 2.30 session panic selling was seen and that pulled down Banknifty to the days low 10587 and at end it recoved about 100 points and closed at last near 10654.The day atp seems at 10737.

We made good gain in the opening and also sold near day high aand covered at 860 level.When it was trading near 850 we gone long and kept sl double sell at 821 that was triggered and our buy target at 742 was achived.Though we have saved our clients well we were recived so many people messages that they made loss and need our help to recover..We helped many to the extent possible by way of averging at every low and exited in 20-30 points and finally freed many out of loss.As a experienced trader+TA we have seen the Banknifty moves and knew how to mange and succed in trading.One need great skill and patiance to trade in Banknifty.It moves like a Bullet.You have to act fast and keep yourself free from all other activities while trading in banknifty.

We have reversed our long to positional sell now Bn will be strong only above 10855 level.Below it do not remain long as Nifty also trading near its critical support.If nifty break down 5393 level a free fall may happen in market.The Govt. is expecting the double digit inflation as the fuel price hike impacts.

Do not trade without sl.Always safe guard your capital with SL.

Banknifty view for 17..05.2011

The banknifty opened in gap down at 10970 and punched a day high at 10979 from there on it was unable to cross the 10960 + level the whole day.The banknifty seem having strong support at 10800 level.Today the day low was 10840 and lastly traded in 10871 level.The day was very much sideways but still gave so many chnces for intraday trades in 20-30 points many time.Today we made 4 trades and each trade made an avg of 27 points without any sl hit.So the Net gain we made is 95+ points.

We wrote we have gone positional long in 10800 level still we are hoping the BN will zoom at any moment.The Nifty today traded well above 5500 level and in the afternoon session it fell down and touched a low of 5477 and lastly traded in 5490 level.If tomorrow nifty open above 5506 and cross 540+ level means one can consider long in Nifty.it may go upto 5620 levels.The nifty is not given any firm indication as of now.So active traders can to intraday trading as per the pulse and move in intraday.

As long as the Banknifty stand above 10800 one can consider long and above 10945 it may act bullish...can easily claim up to 11230 level.