Will This upmove continue?

The Banknifty is fullfiled our expectation as we wrote in our yesterdays's pre-market prdiction.Here i am attaching the same for your attention.

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"Today it is sustained well in 10670 -700 level and during the closing it hits the day high 10750 and marked 767 and was not able to stay and fall 30 points and closed in a possitive note.The day low was 10643 ...The 10633 would have brought fresh selling but today, some how it sustained above and we have seen good consolidation near 10670 level. The banknifty last 3 trading days held well in a range of 10650 to 860 level and considering todays consolidation it may take a jump upto 10930 level. "
"Tomorrow we expect a Gap Up opening in banknifty.If it open above 10840 by chance it may surge it further to 920 level "

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Today the banknifty future opened in >'gap up' near 10780 and surged to 802 and slide down to 758 level and that was the day low.In the the opening we initiated a long near 770 and placed a sell at 834,but when it fall down to 760 in no time we made a double sell and it came down to 758 and rose up to 840 then it fell down to 765 level that made great mess and the day was very tricky as far as banknifty is concerned. it hits all SL here and there.The sl eat out day.. The BN slowely shoot up again to 840 levels...there its sustained well and went up to 907 during the closing.(our pre-expectation was 920)

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The nifty was very neat and fairly done all our expectation/prediction at last it went to 5488 high..we have given in our free tips stream a buy near 410 and gave a target of 484 and that was attained.The icici bank touched 1000 mark and took charge of the banknifty upmove.

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What do we expect Tomorrow?

We are expecting a mild gap down to flat opening tomorrow and if move above & sustain 10940 levels will be strong and the trend may change to mild bullishnes and reach to 980 level.The 10k level it may find hurdle so, it may move to side ways in 940+ levels and a few more days consolidation may take it further up.We also need to watch out the world cue's for this and our market is now(re) connected with the trend of the world market.

is it a consolitation phase to move Up?

The Gap down opening today did'nt create the impact of panic selling in bank nifty. Today it is sustained well in 10670 -700 level and during the closing it hits the day high 10750 and marked 767 and was not able to stay and fall 30 points and closed in a possitive note.The day low was 10643 ...The 10633 would have brought fresh selling but today, some how it sustained above and we have seen good consolidation near 10670 level. The banknifty last 3 trading days held well in a range of 10650 to 860 level and considering todays consolidation it may take a jump upto 10930 level.

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The DII's selling volume is rised today. The nifty today marked a low of 5365 levels and during closing it shoot up 5410 + and still the closing & day low's is lower than yesterdays that is an symptom of further weakness.The Reliance fall is great burden to nifty,it has to fight well to sustain the 5400 level.On the other hand we do expect a dead cat bounce in Reliance..

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What Do We Expect Tomorrow?

Tomorrow we expect a Gap Up opening in banknifty.If it open above 10840 by chance it may surge it further to 920 level or if open near 10800 a selling will be higher and may slide down to 700 and sustain side ways there on.The BN trend now is not aggressive as it used to be. A fall down to 10630 or a move above 10940 only can change its behaviour.

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Avoid fresh longs.

We have done fairly well in Banknifty intraday as desired

We wrote in our friday post that the monday banknifty will open in gap up.It just did the same. We made aprox. 160+ points gain in banknifty today.The friday we covered all our positional shorts in 10710 and made ourself comfortable and enjoyed our week ends without any stress.

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Today opening itself we sold banknifty near 10870 level and placed a buy order at 10694 and in between we made a trade, where ever the market showed low we covered and sold again in high's ..like wise we made 3 trades and without any sl hit we made 160 + points profits(*few clients made 200points), probably we are the one who sold at the days high and bought at the days low.

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We also gave SBI sell call for our clients(it is free call) at 2830 and covered the same at 2790.The icici,Axis banks also shown weakness.

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The banknifty day high was 10881 and days low was 10675.It is taking good support level near 10700 and the next critical support is in 10660.During the closing the BN took up charge and rose to 10790 level.The banknifty is marked a low price's in fay today after it went up to 11100 levels , that is an indication of weakness.The earlier false breakdown was not seen now.

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The nifty now find it base in 5355 levels any up move above 5470 only can change the trend.The infosys,reliance,icici and airtel all are in sell mode so the nifty correction will continue further.

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Caution: Avoid fresh longs or do it with trict stoploss

What we can expect in Tomorrow?

The banknifty moved near to 10800 level at the end..Now the 'cat can jump to any side'..Tonight we have to watch out the global cue's , as of now it is in 'Green Trend' if this turn to red the banknifty slide further(gap down) or open in gap up and trade in side ways...A move above 10940 and sustaining this level about an hour may bring fresh buying and it may touch 10,030level.

Caution:- Avoid fresh longs or Do it with strict stoploss