banknifty view for 13.6.2011

The Banknifty is still weak and tomorrow there is a possibility of little bounce up upto 10760 level and may slide down to 680 or below level.

Today as the iip data was flashed the nifty and Bn fell down sharply the nifty touched a low of 5450 and banknifty at 607.We have made good profit today as we also sold in 10814 and covered in 711 for old shorts and also made three intraday trade and made 111 points ...overall many our clients made 200 points in a day.In the afternoon we just stay kept away from trading as we were expected the market may go eratic..

For the rest view read our yesterday post below to this post as the view is same.

Banknifty View for 10.6.2011

The Banknifty and Nifty last 3 days trade in a narrow range and it unable to step ahead firmly on either side.One side the sentiments are negative and on the other side the market is struggled to jump above the resistance's zone.

The Nifty today made a days low 5493 the support now at 480 is not broken on the same time it is unable to cross 5555 level.The Bn made a high of 10847 and fell down to the days low 10721.The 10680 now act as monour support below it the bn may free fall to 440 level.It also gain strength above 10920.Now one can short upto 10900 for positional with the target of 440.Or make your trade intraday.

Today we made 3 trades and gained 95 points.We have done very conservative trde without any sl hit with narrow target of 40 points.

They Say -

"The left side nothing is left and on the right side nothing is right" our market situation at present is at the same above situation.There seems the dilemma in investors mind to pump fresh investment as the 2-G scam is still expanding and hold many telecoms tycoons to thihar jail!!

BANKNIFTY VIEW FOR 7-6-2011

The market opened weak today and the banknifty touched the dya's low of 10650 and traded in a narrow zone more than 3 hours and nifty came down to 5475 as expected and bounced to the days high 5546.

Today the market sentiment was negative and during the last half an hour the market done the complete 'U' Turn and rose to the new days high.The Bn shown a days high of 10861 and it was caused due to panic short covering and huge Positional Sl hits.The BN was not able to trade above 850 level and it also came down to 813 level and lastly traded in 10839.

We still feel this rally is a kind of phony the decline of NSe scrips ratio is more and there is still dilema for fresh buy even among investors.The Nifty now may trade in wide range from 5440 to -580 level.The Banknifty will again fall down and touch 10620 level..if it break down this it slide down to 10340 level.we do expect once again a gap down opening tomorrow..I would not suggest any fresh long in nifty as well as banknifty .