Technical View and Trading Levels of Cnx IT & Bank Nifty,1 Feb

Bank Nifty Intraday levels and range

Today, 8550 is crucial for Intraday.
If Bank Nifty sustains below 8550, then it could test 8500 and below that level it could test 8300.
Instead, if Bank Nifty trades above 8550, then it could test 8850.

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, 5610 is the crucial intraday level.
If Cnx IT sustains above 5620, then it could test 5740.
Instead, if Cnx IT trades below 5610, then it could test 5500.

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, then it is likely to see a short term correction towards 5500 level. Instead, if it trades above 5930, then it could test 6400.