View For Banknifty 1/2/2011

Last weak when the banknifty high jump near 11250 level we took a positional shorts and was holding till date.today partially we covered in 764 level.We were writting there were many running gaps shown and the 'Island of reversal" must happen and fill all this gaps.Today the 10699 level is such an attempt only.The banknifty is still weak and may go down further after trading another 2/3 sessions in 10600-740 level.

This above we wrote in market preview about today market.The today market touched a low of 10522.10.In my view the Island of reversal faily done in Bn and the banknifty now has come to a neutral state.

We sold today in opening write from 10740 to 680 level and expected to fall Banknifty to 541 level.We covered soon around 90+ points.Many clients were waited for our target at 541 and made huge gains today.As per our tips conservative traders made 125 points.This week we made 310 points out of 4 days trade.(Monday was almost nil.wed was holiday)Few of our clients made more than 540 points this week alone.

The view we y.day wrote is almost remain same on monday too.Today the Nifty touched low of 5485 .From yesterday the Nifty slide down and broken all supports.The next support is in 5340 and from this level it has to bounce up or Our market will face crisis..Today the banknifty last hour gained some strength from 520 level to 650 level and lastly traded in 10672...Still a mild hope there for bulls if monday it cross over 10770 levels.