Banknifty view for 31.05.2011

The banknifty nifty opened in gap up and the Bn was showing strength where us the nifty was moving down wards and the opening was the day high too for nifty.The Banknifty opened in 10678 and touched a day's high of 10739 and slide well down about 100 points from its peak.it also broke down day's low twice and the friday's closing that shows enormous weakness.In the end session it claimed up but was not able to go beyond 10724 level and fall back to 700 and lastly traded in 10702.

From the opening the market was showing a kind of choppiness we planned well our trade and only made 3 successful trades and made a net profit about 100 points in todays intraday in banknifty.

The nifty today shown good weakness and witnessed selling pressure and touched a days low of 5441 level.Te nifty was haveing multiple hurdles in 5520-45 levels.Beyond this level only we can confirm the rally is firm or the market remain in sideways and trade in narrow range.The banknifty get stronger above 10880 level.below it slide down and may fill the gaps left.So it can see going down upto 10450 levels easily.Observe the day's pulse and trade accordingly.All these previews may help you to trade.Remember the market is ultimate and we need to follow that rather then anything else.

Banknifty View for Monday

The Banknifty and nifty gave a strong gap up opening and this rally is fueled By SBI bounce up form 2180 to 2230 level.We coudn't sense the pilse whole day due to power cut at our end.We mad opening 2 trades and ter after only was able to watch market in 2.30 to 3.30 market closing time.

The Banknifty and Nifty jumped up and left opening gap and few running gaps.Today was the first day after F&o closing We still not sure of this rally!! It seem as of now a pseudo rally.We need to observe the monday market how firm the market is going to be.

The market always gives this kind of certain unexpected twist.Of course that's part and parcel of the market.It is a challenge for Technical analyst how ever they are smart enough the market is ultimate and beat all your perception or preview's.

Banknifty View for 27.05.2011

Yet One another fruitful day for us.today we made good gain nearly 180 points in Banknifty intraday alone.TheIntraday Banknifty gain is +41+42+37 points+52+30 points gain in june Banknifty.How we made this possible!! The market is favoured us very well as it was quit predictable and we forseen things in advance and without any sl hit we achived this.Though the market went up we sold at every peak and covered the same way and when it bottomed near 10370 we covered all shorts in may and sold in jun and there also we could makeitwo trades successfully and fnally squered all our position with 180 points+. One can observe the above chart we were expected this eratic upmove due to f&o closing and the fall there after and a rise at last.

The banknifty touched a days high of 10498 due to the f&o closing and gave up all gain and came down to 10370 level and raised to 10470 level.Where as the JUNE month Banknifty touched a days high of 10452 and gone to the low of 10293.this give us a negative bias.The june month trades in discount and the spot is still in premium.The weakness of SBI seems to continue further to 2070 level.

The Nifty gave little hope and touched a high of 5414 and lastly traded well above 5400 level.If tomorrow nifty open above 5440 a chance to move up again upto 5520 level.if open below it on can consider short.