BANKNIFTY VIEW FRO 19.01.2011

The Banknifty today was firm and traded well above 10506 level that itself shows the banknifty now in a recovery/retracement mode.It can go up any moment as the closing of Nifty and Bn also was strong.

The Bankniftyopened today in gap up from the yesterdays closing 10483 to 10550 and it traded in 10600 and above in the opening itself and zoomed upto 699.80 then latter part of the day it also touched new days low at 10532 and again goneup to 600+ level and lastlt traded in 10650 closed well above 100 points from its yesterday closing.Today we made about 50 points gain overall by doing very conservative trading.

The Banknifty tomorrow will have hurdle in 10720 level above it will go upto 10,860.The Nifty today closing show us a possibility of pullback rally on the coming days and that will be confirmed in this week end.The Banknifty if slide down to 10488 by any chance it may slide down to 340 and 220 levels.Our expected view now banknifty is it will float near 10,600 for another 2 days and consolidate and may bounce upto 10800 level.

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Coming back to the markets, the BSE Sensex was up 41.01 points to close at 18,901.45. The S&P CNX Nifty was up 7.70 points to close at 5662.25. Nifty January futures closed at a premium of 5.45 points over spot closing. F&O Segment recorded a turnover of Rs 126368.16 crore much lower than the Friday’s turnover of Rs 210495.14 crore

BANKNIFTY VIEW FOR 17.0102011

The tomorrow banknifty may open in mild gap up near 10720 levels. if, sustain above 700 level it can claim upto 10900. if, failed in this and open below 10680 it will be weak and slide down to 10,340 levels.The spot Bn is closed below the 200DMA,that is a sign of weakness.One can go short in banknifty near 10900 and keeping 947 as SL.

This above one we wrote in our yesterdays post about todays market.Today market opened in gap up as we predicted. from its yesterdays closing 10728.70 to 10741.00.We sold in the opening near 720 and placed buy in 568 when it strugged near 596 and bounced up we covered all shorts near 615 level and made about 100 points profits in the opening 25 mins time.We made 3 sell and one sl was triggered for 14 points other 2 we gained over all 128 points. Actually we sold, when the market recovered to a new high to 10956 we sold near 880 and place buy at 817 but covered soon in 850.Afterwards the market fell down steeply to new days low to 10386.70.Lastly the banknifty traded in 10461.

We always made cool trades and book profit what we desire.Our Basic commitments to all our clients is 50-points everyday. So,we are keen in making this 50-points almost daily and do not bother much about market volatality/Manipulation happens like today .No reasons it touched 10956 and gone down to 386 level!!!

The 'greed' and 'fear' are two factors, that spoil any trades and make the traders fail in trading.

We are Much aware about this factors and do our trading without this and consistently make our gains ...no matter what type of the market it may be.We will make 50-points gain for our clients.So that, a conservative small client can double his/her capital in '3 to 4' months time.No point in risking too much and loose the capital itself.Trading In Banknifty one need to have great skill and stable mind to win.

The monday banknifty may open in 10520 level and try to sustain side ways.if fail and break down the 10384 level the banknifty may slide further to 10230 levels.From there on it may go to fresh lower levels.The Nifty today opened good at 5765 and touched a days high of 5858.75 but failed during its closing and touched new days low of 5638.The nifty now seems weak and slide down further down to 5400 levels.The forcast of leading banks NPM may decline about 15% is another worring facts.

'Be alertful in banknifty trading and always place sl .Do not risk for your capital'.

BANKNIFTY VIEW FOR 14.01.2011

BANKNIFTY today opened mild gap down at 11110.05 from its previous closing 1153.95.As per our technical levels it was weak and we sold in the opening in 11110 and kept a narrow sl at 117 and that was hit in no time.But again we sold in 11120 and kept our SL bit wider and place a buy in 11023 level and when we saw Banknifty struggeled in 11040 level we covered 50% and balance we kept in 11023 and that was achived in few mins.

In our yesterdays post we wrote>The banknifty is made a high inspite of the weak IIP Data. It fell down very fast and touched a days new low 10725 in no time. when it crossed the 10960 level the panic short covering only took it up to 11100+ levels. As we see there is not much strength to move this high other then this reasons.Our expectation is the banknifty tomorrow trade in side ways and consolidate more for few more sessions.'We went short in 10945 level and holding minimum shorts.we may cover it at 10800 level'. After writting this i happen to surf on net to know the other technical analyst views and many wrote about the banknifty that may touch 11300+ levels.When the market opened and showed a weakness we followed our method of trading and sold again apart from our yesterdays short and covered so soon in 10900 level as considering the safety first.Because many were in long and we are the only people, i think who were in short.

The banknifty was touched all our predicted down levels and touched a days new low 10680 during the last hours.Lastly traded in 10765.The low to high difference was about 464 points.Today the trend was one side- i.e, down slide.We actually we missed a golden chance as we are the one sold near the days high and covered soon when we saw 70+points and we again sold and made 48 points and attempts 3 more and sl was hit for about 10-17 points.

The tomorrow banknifty may open in mild gap up near 10720 levels. if, sustain above 700 level it can claim upto 10900. if, failed in this and open below 10680 it will be weak and slide down to 10,340 levels.The spot Bn is closed below the 200DMA,that is a sign of weakness.One can go short in banknifty near 10900 and keeping 947 as SL.The Nifty touched a days low of 5736 it is still in a range bound.one can initiate/consider going long near 5700 keeping 685/715 as SL and expect it move near 810 levels for a exit.