Monday, January 11, 2010

Technical Outlook and Trading Levels for Cnx IT & Bank Nifty,11 Jan

Bank Nifty (spot) 9174.60
Bank Nifty Intraday levels and range

Today, if Bank Nifty sustains below 9210, then it could test 9130.


Instead, if Bank Nifty trades above 9210, then it could test 9270.

For Intraday, the crucial level is 9210.


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 is likely. Instead, if it trades above 9050, then it could test 9300.



Cnx IT (spot) 5599.00
Cnx IT Intraday levels and range

Today, if Cnx IT sustains above 5670, then it could test 5725.

Instead, if Cnx IT trades below 5670, then it could test 5600.

For Intraday, the crucial level is 5670.


Short term Technical View of Cnx IT

The level 5780 is crucial for Cnx IT is the short term. If it fails to move above this level, then it is likely to see a short term correction towards 5300 level. Instead, if it trades above 5780, then it could test 6000.