Banknifty View For 6.1.2011

The Banknifty Drastically fell down last 2 days from 11900 level to 11325 level about 575 points fell down.Today it opened in 11594 and punched a high at 11600 and fell sharply.In the opening itself we sold and many our clients could sell only at 11575 level we also placed buy at 522 and waited in 20 mins it was bought, again we sold in 11400 and ask all our clients to place buy at 11396 but we covered soon near 450 and made about 100-points gain in intraday.We made two conservative trades and succeded in it.

The coming sessions banknifty may take support in 11280/210 level and traces back to 11400+levels.One must be catious if breakdown 11210 level it is critical and may drastically fall down another 400-500 points.Now Banknifty trading needs trict SL for both long and short.

Banknifty View for 5-01-2011

Banknifty opened today with an unexpected gap up and made the opening punch was 11950.20 and that was also the day high.Technically the Banknifty fooled many to initiated long as the opening shown strength.We too gone long when it fall down near 11890 and kept our SAR @ 11872.00 Once it got triggered in no time we asked our clients to place buy at 11777 and that was achived.But the market broken all supports and came down another 180 points the day low made was 11595 and lastly traded in 11608.20.we could make another attempts and made little gain.We gave a indication to all clients the recovery may not possible..based on this many went short in 11740 and covered in 600 level on their own.

In our yesterday view we wrote if broken 11882 it may fall 100 points and take support at 770.But all supports broken today now the banknifty is in positional sell mode as the 400&1300 ema's were broken.

Tomorrow the banknifty may possible to pull up in the opening around 11660 if sustain it will be side ways.The other possibility is more selling pressurse can push it down to 11480 level below this it is very weak and drastic fall may occur.So our view the banknifty may try to trace back it path to move near 11700 level .

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Banknifty View For 4.1.2011

Banknifty Future opened gap up about 70 points from friday closings 11839.The whole Day banknifty was held between two walls from 880 to 955.When it rech near 950 we were preparing for long but it fell down sharply about 50 points.Technically it did'n give much chance for decision making.During closing it came down and closed weak.

What we expect for tomorrow is a mild gap down opening.The banknifty now has strong hurdle in its up move.The 11960 to 12050 is seems strong ressitance zone and a move down to 11882 may lead a fall about 100 points down it may take support in 11770 level.