Friday, January 22, 2010

Technical View and Trading Levels of Cnx IT & Bank Nifty,22 Jan

Bank Nifty Intraday levels and range
Today, 8760 is crucial for Intraday.
If Bank Nifty sustains below 8760, then it could test 8550.
Instead, if Bank Nifty trades above 8760, then it could test 8860.



Short term Technical View of Bank Nifty

The level 9120 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 9120, then it could test 9300.


Cnx IT Intraday levels and range

Today, 5930 is the crucial intraday level.


If Cnx IT sustains above 5930, then it could test 6000.


Instead, if Cnx IT trades below 5930, then it could test 5760.


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.