Banknifty view for 29.03.2011

The Banknifty done a technical breakout in last friday and made a high jump to 11600 levels.Today it opened in gap up but immidiately fell down to 11336(punched)We took intraday long in opening trade around 11400 and exited in 460+ levels.Today over all we made 3 trades and made about 133 gain without sl hit.

The banknifty today punched a low of 11336 and traded well in 11600 level and made a days high of 11642 level.The friday closing to today it well above 200 points and sustained above 11500 firmly.The Nifty also broke away all its hurdle resitances in 660 to 730 levels.

Now the market is powered by the wild BULLS. So, trade accordingly or change your positions.The nifty above 5730 may possibly take the market again to the all time high levels.The Banknifty now may trade in side ways to break the 'Res' levels in 11650 to 11700 levels.

Banknifty View for 25.03.2011

The banknifty last two days trades in sideways that too in a very tight narrow range.Today it opened in gap up from 10986 to 11000 and touched a days high of 11134 level.The 11k level it traded for a long while more than few hours and it stand still almost and traded in 20 points range.Its very rare in banknifty as it used to be eratic.

We made very conservative trade and out of 3 trades we made abt 70+ points gain(1 sl hit for 17 points)Now we expect the gap down opening tomorrow as the nifty and BN has so many hurdle to claimp up.

The Nifty was struck and finally touched the 5550 level.If it cross 623 level it may act wildly bullish or another chance to fall down to 5400 level.The Banknifty may again attract sell at present.it may fall down to 10800 level as there were so many gaps left unfilled.

Banknifty view For 23-03-2011

The Banknifty today opened in mild gap up and touched a opening high of 10824 from its previous days closing and fell down to 10760 that was the days low.Today the banknifty and Nifty was traded in tunnel range and moved like a snail.

The banknifty Banknifty days low to high is only 105 points today. (L-10760,H -10865)Today we have done only 2- trade and made 24+35 points.

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Tomorrow we expect the banknifty will get into range of 10740-930 and a fall below 10632 can bring major selling in banknifty and can go down to 10300 level.