Banknifty View for 11.08.2011

The market in US yesterday was shown a Relief rally that caused the announcement made by the FED- Discount rate Unchanged...And today the Asian market followed the US and made huge gap up opening..In bear market this kind of gap up opening once in a while happen to fill the previous gap's even a small news that favor market...Its purely done by the big market player to exit their longs and and accumulate fresh short..Believe me the Major trend&sentiments are still down the market can not go anywhere expect down side..

We actually make use of today to exit longs in few A group shares and also added fresh shorts in banknifty and Nifty.The Nifty we expect a down fall near to 4770/5470 levels and banknifty may down to 9780 level.One can keep this as a tentative target on the down side and there you can add fresh longs...till such time keep away from longs..Many our clients shorted as per our advise.


Today i expect the Dow& NASDAQ may again fall and the Asian&Indian market expected to open in gap down.Now giving any levels for intraday is not reliable as the market is coupled with the world market and the crisis out side nation have great impact on our market ...The FII's already sold about 1.5 billions.The DII's can not pump much money equal to Fii's to safe guard our market..So be wise and trade wise.

Banknifty view for 10.8.2011

The Market sarts showing it wild colours in the past four days.The today market opend in deep gap down and the opening there were huge panic selling seen..But in no time the Banknifty and Nifty jumped up.

Today the banknifty opened in 10050 punch and show a down at 9939.90 and from 10050 onwards it shoot up like bullet.I saw a real Roller coaster move today from low 9939 to 10433.Who ever was not trained enough in trading would have thrown out when the market was gone up(without sl) and that too i noticed from 10250 onwards it shoot up non stop to 433 and certainly jumped down to 10050 levels.That's why i say the market exactly behaved like a roller coaster with so many wild jerks.

Yesterday, in my preview i wrote any prediction now may go futile.That's how the market exactly behaved today.New traders must stay away from this market. As it is purely the technical players/operators are very much aggressive.For no reasons it pulled up and no reasons it fell down steeply.Even the technical 's tools can not give you a perfect indication.

Last two days, the market opened in gap down and pulled up(may be by the DII's Buying) and gave up all the gain.One thing we need to remember, no one can hold the falling knife when the margin pressure/shortfall- faced by FII's!! In any price they sell.So be cautious.All i can say now is the market is not settled in bottom..as the Nifty and banknifty broken the status quo bench mark 5000&10000 respectively.

Yet another gap down is on card.The bear market is the indication of a continuous gap down and bounce to fill the gap.The nifty& Bn gap was filled today.It means the peak one can look out chance to exit long or add fresh sell.

Banknifty view for 9.8.2011

The US debt crisis made fear among the global markets and that too when the USA lost its status Quo since 1917 the 'AAA+' has became 'AAA' after the friday US market closing...That gave a negative impact among the global investors and traders...And today the whole of Asian market opened in deep down The Indian market too opened in gap down.The Nifty opened in 5149 from the Friday closing 208 but it was traded near 5100 during opening and in the Mid-session it shoot up and made a days high of 5208...But instantly gave up all the gain in short while and fell back to 5110 level.So the attempt of bulls failed The Nifty closed weak.

We wrote in our yesterday post...
The Nifty we expect to take support in 5048 level and may bounce steeply to 5400 levels..as the upside gap is unfilled..But we also remember, there is a huge gap on the down side left unfilled , during when the congress won the election....So ,one can keep this SAR@5048 and go long..if SAR triggered/breakdown the down side also you may gain..So the idea is to have an open mind for both possibilities ,We can gain.Don't risk your trade without stoploss now.

Many readers and clients followed our plan and made 150+ points in Nifty intraday.As the 5048 level we mentioned as SAR was not triggered.The nifty made a days low very close to this SAR.The days low was just ten points away from our SAR-.i.e 5057.

The BN opend in 10100 level made a days low of 10075 and rose to the days high about400 points + as it touched the high in intraday itself 10494 and gave up all the gain and fell down to 10200 levels.

The Market now seems in the panic mode so the intraday recovery also failed and seems a phony..The comming sessions we need to observe than only the follow up action can be made.Any prediction may futile now.The best thing one can do is trade with SL.