Thursday, December 17, 2009

Bank Nifty & Cnx IT Technical View

Bank Nifty (spot) 8682.00
Bank Nifty Intraday levels and range




Today, if Bank Nifty sustains below 8600, then it could test 8300 and below that level it could test 8200.


Instead, if Bank Nifty trades above 8600, then it could test 8800.


For Intraday, the crucial level is 8600.




Short term Technical View of Bank Nifty


The level 9050 is crucial for Bank Nifty in the short term. As long as it trades below that level, a decline to 8000 level by this month end is likely




Cnx IT (spot) 5653.00






Cnx IT Intraday levels and range




Today, if Cnx IT sustains below 5620, then it could test 5560.


Instead, if Cnx IT trades above 5620, then it could test 5690.


For Intraday, the crucial level is 5620.




Short term Technical View of Cnx IT


The level 5700 is crucial for Cnx IT is the short term. If it fails to move above this level in another five trading sessions, then it is likely to see a short term correction towards 5300 level.