Banknifty View for 13.09.2011

In our yesterday Post we wrote

"The Us and SGX are trading weak and the Monday our market may slide further.If Banknifty fall below 9480 do not remain in long.Nifty will again fall below the 5000 mark. No wonder if nifty go down to 4700 level again??'

The today market fell and Nifty opened in 4969 and touched days low of 4901>the Bn opened in 9495 and seen a punch of days high of 9540 and went to the days low of 9336.We have covered all our positional short sold in 9930 level at 9340 level and again sold the same in 9440 level 50% covered it in 9370 level.Many our clients today made Rs20,000 and above in intraday itself.

We still hold our nifty shorts in spite of some intraday gain by swing trades.The Nifty now weak and may break down the earlier recent low 4710 if tomorrow it breake 4890 level.Watch it.The banknifty can have a small bounce back uptp 9580 level where one can re-short.

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Banknifty view for Monday 12.9.2011

Last week the Banknifty bounce up from a low of 9350 level to 9950 level.We sold and covered our shorts in 400 level and again accumulated shorts in 800-950 level and the friday we gave a sell at 940 and covered same in 704 and agin made few intraday swings and made a gain of 300+ points.The positinal shorts still we are holding in nifty and banknifty as we expect the market may bottom once again.

The Bn touched day high of 9960 and fell to a days low of 9635 and Nifty too shown a fall of almost 100 points in intraday.The Us and SGX are trading weak and the Monday our market may slide further.If Banknifty fall below 9480 do not remain in long.Nifty will again fall below the 5000 mark. No wonder if nifty go down to 4700 level again??

Sorry friends,
I was on my vacation and Technical Analysis workshop..so was not in a position to update...from tomorrow onwards blog will be updated as usual..