Banknifty view for monday

The Banknifty last 2 days showing weakness.Yesterday it opened in gap down about 100 points and today it struggle to cross 10950 level and also not broken down the 10680 level.Monday it may open down to 10680 means the Bn will fall down to 10270 level.if open above 10940 a side ways trend will be there for few days.Today we made only 2 tardes and made 39+47 points without sl hit and also covered yesterday stbt today and made another 77 points in it.

Today we gave nifty positinal short exactly at day's high at 5608 and gave a target of 5510 and the day low was exactly 5509.80.We were really thrilled as nifty was going high after high and we sold in days high and bought at days low and made about 100 points many our Banknifty client we gave it free all of them really stunned by our performance.

The nifty and banknifty may continue it weakness on monday and the bn is strong only above 10922 level and the nifty is above 5552 may gather intraday strength...overall the sentiments are neagtive the nifty may go down agin to 5440 level,

Banknifty View for 2.6.2011

The banknifty today opened in marginal gap up and showed weakness it fell down to day low of 10851 and during market closing it jumped up to 10955 level.The opening it showed the punch of 10984 but trading was not seen.in 10920 level it was trading for longer time and the end it showed the exhaustion gap up.Actually the day was very choopy.

The Nifty was touched a day low at 5545 and during closing it jumped to 5592 level and marked a days high of 5594.The nifty now has strong hurdles in 5605 tomorrow one can go short if nifty open down to 5580 and your SAR must be at 5612.The Banknifty is in my view weak and expected a due fall any moment.Technically it can claimp up to 11080 level as per todays closing.Today the panic short covering only took it up...so one can avoid fresh long at this level.

Banknifty view for 1.06.2011

Banknifty and Nifty today opened in gap up and went strong.From yesterday's closing 10700 bn today opened up in 737 and gone instantly to 10800 + levels and in the mid-session it showed weakness.We gone long in opening around 10740 and gave a propsed target of 10825 but we exited near 804 as it was strugguling and went short there and covered the same in 750 level and we really missed a long when it touched days low at 10730 level.from the low it slowlely claimped up to days high of 10944.90.

The Nifty was able to break out all hurdles on the upside from 5520-45 and touched a days high of 5563 and lastly traded in 5552 level.The major correction in indian market was averted last week.Today sbi also gone to 2280+ levels.

In our view now the market is strong but we would not suggest fresh long at this level.As we have noticed today and yesterdays the market left many gaps including open&running gap's.The 'Island of reversal" tend to happen any time.Even for intraday long use sl-strictly .

The Bn is due to fill the 10460 level gaps if it needs to carry on this rally firmly it has to fill this gap.So that it can move up without any vaccum on the downside.