Banknifty view for 16.6.2011

The market is just started showing its real coluors..what we have seen is just the tip of an 'iceberg'.The jim rogers says the US is preparing for another recession in 2years.Among the world markets indian market seems to be better as it purely depend on its domestic growth unlike other nation.The current GDP and inflation is disappointing ...yet in a long term view its good.But we need to remember one thing in our market is not completely de-coupled from other market.The commodities prices are out of control and the crude hike really worrying as the on going rapid rise of domestic needs.The people are in power were unable to compensate this deficit...!! there is a way out to find the oil&natural gas in India.But will it possible...i don't thing so as the private oil explorers like reliance and other companies are taking all our resources to their favor.The recent CAG reports shows the Govt. Made loss about 40,0000 crores in the K.G.basin that was the loss made as the ministry was favored all its norms that favor to reliance...Just now we are talking about the 2-G scam and that 1.8 thousand crores is not yet recovered not even a 1000 rupees now the other scam is discovered..Where it lead no doubt we are droned so much.The reliance will surly pull down the index soon.

We were cautioned in our previous post do not remain long in NIFTY and Banknifty when it was trading in 5530,10840 levels respectively.Today the nifty touched day high of 5505 and fell down to days low of 5438.The bn touched high of 10835 and gone to the low of 10607.The Bn opening punch was in 835 we have not seen it stood up there...all we saw is 81o level .

Today we made good gain in both the index's.We done 4 trades in banknifty and made nearly 90 points.The positinal short holders made about 200 points.

We expect the market may bounce little up and again it require fresh selling pressure and it slide down to 5408 and 10560 level.Positionally the bn will slide down to 10440 level.

Banknify view for 14.6.2011

The Banknifty opened weak and slides to days low of 10602 and shoot up sharply to 10700 level and touched a day high of 10765 level.The nifty also made a low of 5437 and touched a days high of 5511 level.

This up move was expect as both these index are filled the gap.We would like to insist the nifty and banknifty gone up in sideway market it has done a exhaustive run up and the BN&Nifty is still seems weak as the selling pressure in nifty was too heavy today.The Nifty has so many hurdles in 520 and 545 area so the upside move is limited we need to observe few days as the trend now may be side ways.

We made good gain in Banknifty intraday about 80 points and STBT shot also covered where we made around 60 points in addition to todays trading.

We would not suggest fresh long at this level one can consider short with SAR-5540

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.