Banknifty view on 8.04.2011

The banknifty today touched a days low of 11695 and bounced up tp 870 level it seems it is a kind of consolidation to move up again to the 12000 level.Below 680 it may move down.Today we made Net gain in banknifty intraday=+38 +33+48 points.

Now the nifty and Bn may try to bounce new highs if nifty stay tomorrow above 5940 and closing above this level may take nifty to 6180 level.Bn to 12120 level.If nifty close below 5870 it may slide down to 5740 level and again may sustain side ways.banknifty fall below 720 is weak and below 680 we can confirm weakness to sell and it may take support in 11540 level.Now the trend is sideways so we can not say anything firmly.

Banknifty View for 7.4.2011

Today the day was good for all our clients as we made fair trade and gained much.The Net gain we made in banknifty intraday= 29+27 -17 + 30+32 points(intraday positional+91 points).There are few clients who made nearly 200 points as they trade both intraday+positional calls.Assume if one trade 100 in Bn they would have made 100X200=Rs20,000/-.That is what the banknifty give return for your risk.The risk is your sl.As we used give minimum calls with minimum sl and try to gain more from market.

We wrote in our yesterday post the banknifty was failed to trade firmly in 11920 level.Today it was not able to cross even the 900 level.it touched day high of 11897.95 and touched a days low of 11733.80.most of the time it trade near 11800 and lastly closed near 11760.The nifty also seen selling today as it slides down from day high 5933 to 880 level and did'nt stay long in above 5940 level.

The intresting part of the market is many value based stocks are moving up in the last few weeks.our own many seed tips scrip have gone beyond 50% in 2 weeks time.

The Banknifty now may turn a positional sell if open tomorrow below 11800 level and we do hope the tomorrow market the gap down opening will be there.The nifty one can go short below 5920 with sl at 942.BN can slide down to 11600 level.trade wisely and keep SL and trade.

Banknifty View for 6.4.2011

The banknifty today was different and very eratic in its up and down moves.It gave so many chances for traders and also was not easy to predict the trend as it was a kind of twist almost from the opening to the closing.

We saw the Bn open in 11925 and gone long in opening around 910 but instantly we saw it was sliding and we double sold in 915 level and bought the same i 872 level.There it show strength and we gone long wit sl at 842 and certainly it fell down very fast and hit the sl.We acted very fast and gone fresh short in 840 and gave a target buy at 747 and during 790 we asked our clients to cover 50% short balance at target.The target was done and bn gone to the days low of 11728 level.From 840 to 747 is what we gained inspite of sl hits we made gain and we told our clients to stay away and stopped tips after wards.Also warned when it was trading 735 level do not go short dead cat bounce may be there.The same happened the BN too up to the 880 level at the end.

In our View the Banknifty was unable to stay firm even 5 mins in 11920 level.So any firm stay above this level can take it to 12030 level.It is weak below 812 level and very much weak below 602 level.If fall down to 780 do not remain in long.Trade with SL that save your capital.