What to expect from the market now?
Foreign institutional investors off loaded stocks worth Rs. 245.42 crore on Monday along with the domestic institutional investors who in turn sold out stocks worth Rs. 27.61 crore. We expect the market to remain in the tight range despite the sell off made by the institutional investors. Market is expecting some cues from the budget but post budget there could be huge volatility in the market. Today, the market is expected to be in tight range. The upper band of the nifty may be 5520 and in case it crosses the same it could go up to 5580!

Today our market fell down sharply in the afternoon .The Banknifty gave up from its day high 10877 to 640 level.Nifty gone down from 5501 to 5426.This weak nifty and banknifty there were less buying and more selling seen on monday to till today that made the fall and the bulls have less hope now..If Nifty move above 5560 level the inverted head and shoulder may come in act and lead market to further highs and if nifty move down to 340/320 level just negate this formation it will fall further there on.

We were selling Banknifty right from the recent high's 11270 level and the partially we booked profits in positional short today in 10660 level which was sold in 11270.We made about 600 points in positional short in a weeks time.Still we hold part of our short to cover at lower level.

Today in intraday we made 4 attempts and succeded in all and gained about 130+ points profit. At last we sold in 10840 level and covered soon as we made enough gain in intraday, once we covered it fell about another 150 points.We just sat tight and kept ourselfs away from market.

The Banknifty as we mentioned in our monday post below 10770 huge selling will be there that happened after 3 days today.Now tomorrow the banknifty may trade sideways and may fall down agin in the coming days.

Banknifty View For 23.02.2011

As we stated in our yesterday post about the preview of banknifty today " it may open in gap down". The baknifty done the sameit opened today in 10925 from monday closing 11070.We gave yesterday STBT call and sold BN in 11067 and today we covered the same in 10880 level and gained 187 points profit in one over night shot.This is how we foresee things and made profit for all our clients ..If one follow us strictly it is no doubt one can win and create massive wealth soon.

Today we have done 6 tardes and gained 162 points in intraday itself apart from the STBT call.We were kept aside after 3pm to avoid the closing jerks.The banknifty today was moved up to 11000(punch) and traded well in 10950 level but there were selling instead buying...similarly when it touched the days low 10762 there were not much buying but it jumped to 840 level due to the market closing/short covering.

The Nifty gave up almost 100 points and showing weakness.The tomorrow if banknifty open below 10740 it may slide down to 10160 level and if move above 10980 and sustain above 11040 it may be strong upto 11270.Third option if open near 820-900 it will be choppy/side ways for some more sessions.

Banknifty View 22.02.2011

The Banknifty today opened in mild gap up from its fridays's closing but was jumped to 10980 level during opening and slides down sharply in no time to 10840 level.We turned the situation to our own favour and made a swing sell& buy in the opening 10 mins itself and gained 58+52 points respectively in 2 trades and in the afternoon we made another 1 attempt and made 38 points.Over all we made a gain about 140 +points today in intraday without SL-hits.

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The Banknifty showed a days low at 10784 and in the afternoon as the SBI moved up this index shoot up to 11099 about 315 points zoomed in short while.This seems no good as it is not traded well in these levels between and jumped up.These caused because of the exhaustive running gap's and that will be filled soon or latter.

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The Banknifty my friday view, i wrote if move below 10770 drastic selling will be there,but it took sup in 784 and gone up and closed well above.As the MA is still not confirming the firm direction.When i saw the Atp during closing 10922.Thats shows the Banknifty may open gap down tomorrow.But considering Nifty jump above 530 to 560 it can be more volatile upto 5640 level.I advise no fresh longs until nifty close above 5600 levels.

The Views are still same the banknifty is now weak below 780 level and may stong above 11270 level in between it sustain and can move sideways.The tomorrow market will be expected to be choppy.