Banknifty view for 21-03-2011

The Banknifty slided down from its yesterdays closing almost it gave up 50 points soon after the market opening at 10940 level.it touched the day high of 10958.We have been insisting do not remain long in Banknifty.from the opening it fell down to 10800 level and was stand still there for a longer time.The day was choppy.The post mid-session the market started sliding down and banknifty touched a low during market closing at 10739.

We have sold banknifty in the opening and intraday clients we asked them to cover when we see near 86 points.We have done 2 trades only and made a good gain nearly 110 point without sl hit.We also gave a short for positional and covered the same when we see near 10740 level.

The monday opening is purely depends on the world cue's.Today Nifty gave hope to bears as it touched the days low of 5380 and unable to move beyond 5502.The weakness may continue in Nifty as it has multible support near 5220 levels.The Banknifty is weak below 10770 and it can move down another 300+ points.it may attract buy if move above 10887.Our Market in macro view struck in side ways range bound.so, it is not giving any firm direction as of now.

Banknifty View for 18.03-2011

The banknifty closed yesterday in 10965 but today it opend in gap down at 10879 and did'nt give much buying chance as it shoot up immidiately to 10920+ level and gone to a days high of 11049 level.Around 12-pm the mid-market hours the nikki fell down and the indain market too fell down sharply and the Bn touched the day low of 10861.

We made conservative intraday 3 trade and made about 100 points and also attempt a positional sell in 11020 level and covered the same in 880 level.

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The Banknifty was struck in range bound and it gone to higher higher(11049) from yesteday days high (11023) and not broken down yesterday low that was 777.In our view if Bn fall now below 10770 may add fresh selling and slide down to 10440 level.if by chnce as per the world trend move up above 11110 it act bullish...but one need to observe for going fresh long atleast 1 hours.As it may act technically over bullish above 11200 level to 113380.The Nifty still seems weak and struck in range bound.

T-sunami That shook the world market.

POST T-SUNAMI IMPACT ON MARKET

T-sunami That shook the world market TODAY.The japan index was down in the opening about '-14 %'. and recovered during market closing and closed weak about -10.06%.The 14% was seen after the year 1970 and the -10.06% was seen in 2008 recession/Global meltdown that was caused the Leahmen brother bail out.

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The Nikki and the Yen fall impacted the Global cues today and our indian market opened very weak and recovered during market hours but still the weakness persist.The Banknifty opened in gap down of -248 points.the yesterday closing was 10948.from this closing today opened in 10700 level and gone down to the days low of 10613 level and the day high was 10805.Lastly it was traded in 10740.00.

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The Nifty fell down from 5555 to 5389 and the day low was 5375.60 and lastly traded in 5441.Today in the opening we were shocked after seeing the down flow and unable to trade in first half an hour and afterwards we were expect the 'Island of reversal" and made only few conservative trade.The Net gain In Banknifty Intraday> +33+27+42 +64( positional short covered 50%)

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The Nifty was unable to move beyond 5505 level and bn struck in below 10805 level.The weakness will continue tomorrow if nfty trade down to 5430 level and BN down to 10720 level.The banknifty may go down to 680 means avoid long and it may down further to 440 level.