Technical View and Trading calls of Cnx IT & Bank Nifty, 2 August 2010

Bank Nifty Intraday levels and trading tips

Today, 10120 is crucial for Intraday.

If Bank Nifty sustains below 10120, then it could test 10000, and below that level it could test 9900.
Instead, if Bank Nifty trades above 10120, then it could test 10220.

Short term Technical View of Bank Nifty

The level 8825 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 8825, then it could test 10250.

Cnx IT Intraday levels and and trading tips

Today, 6090 is the crucial intraday level.

If Cnx IT sustains above 6090, then it could test 6140 and above that level it could test 6190. 
Instead, if Cnx IT trades below 6090, then it could test 6030 and below that level it could test 5980.

Short term Technical View of Cnx IT

The level 6230 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 5650 level. Instead, if it trades above 6230, then it could test 6500.