Friday, December 18, 2009

Technical View of Bank Nifty & Cnx IT and Intraday levels

Bank Nifty (spot) 8693.00
Bank Nifty Intraday levels and range


Today, if Bank Nifty sustains below 8710, then it could test 8550 and below that level it could test 8300.


Instead, if Bank Nifty trades above 8710, then it could test 8800.


For Intraday, the crucial level is 8710.




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) 5692.00






Cnx IT Intraday levels and range




Today, if Cnx IT sustains below 5650, then it could test 5560.


Instead, if Cnx IT trades above 5650, then it could test 5750.


For Intraday, the crucial level is 5650.




Short term Technical View of Cnx IT


The level 5750 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.