Wednesday, February 03, 2010

Technical View and Trading Levels of Cnx IT & Bank Nifty,3 Feb

Bank Nifty Intraday levels and range 

Today, 8550 is crucial for Intraday.
If Bank Nifty sustains below 8550, then it could test 8490.
Instead, if Bank Nifty trades above 8550, then it could test 8625 and above that level it could test 8750.


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, 5610 is the crucial intraday level.
If Cnx IT sustains above 5610, then it could test 5725.
Instead, if Cnx IT trades below 5610, then it could test 5560.

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.