Banknifty View for 28-12-2010

The Banknifty Move today was like a snail crawling.We made gain in banknifty intraday about 70 points+ 40 points in intraday trading.The Banknifty held in sideways move the high made today was 11570 and low was 11450.The 11440 seems now a kind of support breaking down may lead to 11330/280 levels.On the upside it has strong hurdle in 11660 level, so it may swing sideways between 440 to 660 on the coming session

The nifty may weak below 5975 level.Today the nifty shown weakness and fell down to the 6020 level if tomorrow move above 6060 only confirm a firm trend reversal.The FII's buying seems to continue and may pumb another 5 billion dollars into our market.So the value buying is on the rise that may lift market once again.

Rs 5 lakh crore Corpus Investment in Stock Markets

Rs. 5 lakhs crore Corpus Investment in Stock Markets:-

This News triggered Sharp unexpecd bounce up Today.

The finance ministry has shot off a fresh missive to the labour ministry asking it to invest a part of the Rs 5 lakhs crore corpus of the employees’ provident fund savings in stock markets. This is a good symptoms for longtime investors.

We will post banknifty view on sunday night.

Banknifty Pre-Market View

In our view the Nifty may sustain side ways as many wise people done so much hedgeing.if tomorrow move above 6030 level then the bulls take full control overl all index's.The banknifty may find down support at 11330 and trade up to 560 level.Above 11660 it will be strong up move upto 11720 level.

>>The above one we wrote yesterday about todays market..just check the banknifty made a high of 569 and fell down to 440 level.The day was very narrow and snail move...very much sideways and choppy.We could make a net gain of 70 points today as we made a very conservative trades.

In our view the Banknifty&Nifty may fall from the current levels slightly.The banknifty may find support at 11260 level and Nifty may come close to 5927 level and may trade in sideways.

The Inflation and the rise of Fuel & Essential commodities prices are worriying facts Now.The RBI governor himself is concerned that the inflation is not within control as the food grains & veg prices are shoot up contininually.