Tuesday, February 02, 2010

Technical View and Trading Levels of Cnx IT & Bank Nifty,02 February

Bank Nifty Intraday levels and range 

Today, 8600 is crucial for Intraday.
If Bank Nifty sustains below 8600, then it could test 8500.
Instead, if Bank Nifty trades above 8600, then it could test 8800.



Short term Technical View of Bank Nifty

The level 8500 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 8500, then it could test 9100.


Cnx IT Intraday levels and range 

Today, 5720 is the crucial intraday level.
If Cnx IT sustains above 5720, then it could test 5900.
Instead, if Cnx IT trades below 5720, then it could test 5620.

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 5720, then it could test 6000.