Banknifty View for 2.02.2011

The tomorrow market may seen a fresh bull back rally if nifty sustain well above 5540 level,The banknifty today claimed to 10724 level this may caused due to panic short covering as it again fell down to 520 level and shown some closing jerks and the closing gave no clear cut direction for tomorrow...if, open above 10770 it may act bullish or open down to 10587.

This above one is what we wrote in our yesterday post about today market.The Banknifty opened in gap up at 10700 from its previous day's closing 672, and touched a days high in the opening 720.It acted bullish as Nifty was also opened in 5542 level but it could'nt sustain in this level within 20 mins of market opening it fell down to 10,600 level from there on it was in side ways from 555 to 600 level and didnt give much chance to any buy/sell, then finally fell to 500 level and touched a low of 10470 during market closing.

The Today market was kind of choppy about more then 2 hours in a narrow range. The nifty ,Bn was done its best to move up after a long consolidation where as there were no sufficient buying pressure it could'nt move up.

The Banknifty now broken down the 400/1334 EMA's gone touched the low of 10470.if tomorrow by chance if it open down to 470 it may fall shrply to 388/222 levels.If open near 540 it may crawl up to 680 level and become choppy.The Nifty we need to observe closely as it touched a day high of 5542 and also touched a days low of 5411.It gives a negative signal as it may test its critical support near 5340...!! if broken this level, a deeper correction may occur.So let us hope a bounce up/gap up opening.

Banknifty View for 1.02.2011

The Market gave a shock in the opening as it opened in gap down near the critical support level.The Bn was about 90 points down from its fridays closing.The nifty too almost opened 50 points down in 5475 but we could see only the 445 levels.We did'nt attempt opening call today.Till the mid-after noon the banknifty and nifty were caught in a narrow range. we made conservative trades then latter the BN gave us so many chances for intraday swing trades. we missed many attempts..and done many trades with narrow sl of 7 to 20 points.We were bit aggressive today and done everthing strategically.

The Nifty and BN took a 'U' turn and gave a hope to bulls once again.The Bn touched a days high of 10724 and the low was 10432 and lastly traded in 10660.Nifty also closed better and it can jump either sides.

The tomorrow market may seen a fresh bull back rally if nifty sustain well above 5540 level,The banknifty today claimed to 10724 level this may caused due to panic short covering as it again fell down to 520 level and shown some closing jerks and the closing gave no clear cut direction for tomorrow...if, open above 10770 it may act bullish or open down to 10587. it may be weak and may test the 10388 level.Being a firstday of 'feb' a fresh positional buy/sell may add volume.Do your trades with SL.

View For Banknifty 1/2/2011

Last weak when the banknifty high jump near 11250 level we took a positional shorts and was holding till date.today partially we covered in 764 level.We were writting there were many running gaps shown and the 'Island of reversal" must happen and fill all this gaps.Today the 10699 level is such an attempt only.The banknifty is still weak and may go down further after trading another 2/3 sessions in 10600-740 level.

This above we wrote in market preview about today market.The today market touched a low of 10522.10.In my view the Island of reversal faily done in Bn and the banknifty now has come to a neutral state.

We sold today in opening write from 10740 to 680 level and expected to fall Banknifty to 541 level.We covered soon around 90+ points.Many clients were waited for our target at 541 and made huge gains today.As per our tips conservative traders made 125 points.This week we made 310 points out of 4 days trade.(Monday was almost nil.wed was holiday)Few of our clients made more than 540 points this week alone.

The view we y.day wrote is almost remain same on monday too.Today the Nifty touched low of 5485 .From yesterday the Nifty slide down and broken all supports.The next support is in 5340 and from this level it has to bounce up or Our market will face crisis..Today the banknifty last hour gained some strength from 520 level to 650 level and lastly traded in 10672...Still a mild hope there for bulls if monday it cross over 10770 levels.