Banknifty View for 18.04.2011

The Banknifty in wednesday done a complete U turn and closed above 11900 after touching a low near 11500 level and about 400 points jump.It closed in 11903 and todat it opened in 11900 and touched a days high of 11996 and days low of 11740 level.After it opening in slide down to 834 and gone up to 870 lvel where we sold and kept our SAR in 914 level.It came down to 840 after we sold but we gave a target buy of 812 and it triggered our sl at 914 and gone to 940 and came down again to 870 and went up to 996 level.

Net gain in banknifty intraday today we made is =-37+42-18+44+32 points and we sold thrice in 940 level and bout it in 888 and third time we covered soon in 910 but it went down to 790 level.Some how we were in short almost all the time but covered it soon.or we would have made 200+points any way gaining is more important than loosing.

The banknifty was stronger today than Nifty when Bn gave up the nifty also slide to alow of 5820.the day high Nifty punched was 5923.80

On Monday the banknifty will go down if open down to 11792 level.Above 840 one can go long.The 11500 level it didnt stay longer time so it may come down and again consolidate some more time.The Nifty above 5940 will confirm rally.below it may show sideways trend for a weeks time.

Banknifty View

Today banknifty and nifty shown weakness.The banknifty shown a punch of days high 11700 and days low 11590 both these two levels it was unable to cross after the market opening whole day it was moved like a snail and sideways in 620-50 levels.The Nifty made a day igh of5848.60 and days low of 5796 level.The nifty is still weak as it was unable to cross the 855 level.Hope this weak our market may slide down further.

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We made only two trades and won 52+20 points as a net gain in banknifty intraday.The banknifty move down to 11540 will add fresh selling pressure as it accelarate more positional sell.We were cautioning from 11920 level do not go long as we were holding positional short and today we covered partial in 11600 levels.

Banknifty view for monday

The banknifty today shown considerable weakness and the nifty shown a visible weakness today after it punched from 5700 to 6000 level.The nifty was too strong all these 2 weeks time and today it broke the 5855 and gone down to the days low of 5833 level.

The Banknifty made a low of 11665 from the days high of 11889.We mentioned in our earlier post when nifty was near 5380 it may touch 6000 and bn may go near 12000 level.The nifty done it but BN is failed to cross 11930 level.That too last 3 days it try to go up beyond 900 but failed in its attempt.Now banknifty is preparing a down move towards 11540 breaking this minor support breaking down may slide to 11330 level.The bull now have hope only beyond 11933 level and can consider long or below 11730 go short.

Today we made good trade and gained about 100 points in 4 trades.The Bn in sideways move almost a week that made us to gain all these week days a great gain about 400 points in intraday itself.

We Will update on sunday night the rest view after seeing the global trend.