Banknifty view for 18.05.2011

The Banknifty beat all our expectation.The Banknifty opened today in 10880 level and gone to the high of 10938 and during the mid-session it showed weakness and done a unexpected twist.The 10800 level was well held several time but at last once it broken it slided down to a drastic fall.During the 2.30 session panic selling was seen and that pulled down Banknifty to the days low 10587 and at end it recoved about 100 points and closed at last near 10654.The day atp seems at 10737.

We made good gain in the opening and also sold near day high aand covered at 860 level.When it was trading near 850 we gone long and kept sl double sell at 821 that was triggered and our buy target at 742 was achived.Though we have saved our clients well we were recived so many people messages that they made loss and need our help to recover..We helped many to the extent possible by way of averging at every low and exited in 20-30 points and finally freed many out of loss.As a experienced trader+TA we have seen the Banknifty moves and knew how to mange and succed in trading.One need great skill and patiance to trade in Banknifty.It moves like a Bullet.You have to act fast and keep yourself free from all other activities while trading in banknifty.

We have reversed our long to positional sell now Bn will be strong only above 10855 level.Below it do not remain long as Nifty also trading near its critical support.If nifty break down 5393 level a free fall may happen in market.The Govt. is expecting the double digit inflation as the fuel price hike impacts.

Do not trade without sl.Always safe guard your capital with SL.

Banknifty view for 17..05.2011

The banknifty opened in gap down at 10970 and punched a day high at 10979 from there on it was unable to cross the 10960 + level the whole day.The banknifty seem having strong support at 10800 level.Today the day low was 10840 and lastly traded in 10871 level.The day was very much sideways but still gave so many chnces for intraday trades in 20-30 points many time.Today we made 4 trades and each trade made an avg of 27 points without any sl hit.So the Net gain we made is 95+ points.

We wrote we have gone positional long in 10800 level still we are hoping the BN will zoom at any moment.The Nifty today traded well above 5500 level and in the afternoon session it fell down and touched a low of 5477 and lastly traded in 5490 level.If tomorrow nifty open above 5506 and cross 540+ level means one can consider long in Nifty.it may go upto 5620 levels.The nifty is not given any firm indication as of now.So active traders can to intraday trading as per the pulse and move in intraday.

As long as the Banknifty stand above 10800 one can consider long and above 10945 it may act bullish...can easily claim up to 11230 level.

Banknifty view for 16.05.2011

The banknifty now preparing itself for a relief rally and can go up to 11440 level at ease.Today Banknifty marked days low at 10812 and gone to the high 11203 and during 2.30 to 3pm fell down ro 11020 level and lastly traded in 11065.Though it came to 10800 level the retracement was good and fast and today there were huge buying seen in banknifty.

Last few days we were unable to update due to some blog error.it might be some server updation done by blogspot.

The Nifty also shown good rally today and traded well above 5560 level and touched the days high of 5622.

The banknifty came down to a recent low from 11950 level to 10760 level and last many days it trade well above 10850 level and consolidated good enough and today the nifty was lifted up by banks only.During closing around 11200 level today the short term/intraday profit booking seen that shown a pull down about 100 points as the selling pressure was more due to partial/full profit booking.We have gone positinal long in 10800 level and hold our position for the target of 11420 level very soon.

The individual/anybody follow this site need to take their own decision for trading as we only state our views here.We can not claim we are the best but our intention is to help people who is actively trading in banknifty.The banknifty is one of the highly volatile index's and one can be through and need to know the depth before trading.New bees please learn before venture into actual trading and understand the risk involved.