Wednesday, January 20, 2010

Technical View and Trading Levels for Cnx IT & Bank Nifty,20 Jan

Bank Nifty Intraday levels and range
Today, 9120 is crucial for Intraday.
If Bank Nifty sustains below 9120, then it could test 9000.
Instead, if Bank Nifty trades above 9120, then it could test 9250.


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 Intraday levels and range

Today, 6000 is the crucial intraday level.


If Cnx IT sustains above 6000, then it could test 6200.


Instead, if Cnx IT trades below 6000, then it could test 5930.

Short term Technical View of Cnx IT

The level 5930 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 5500 level. Instead, if it trades above 5930, then it could test 6400.