Technical View and Trading calls of Cnx IT & Bank Nifty, 24 August 2010

Bank Nifty Intraday levels and trading tips

Today, 11150 is crucial for Intraday.

If Bank Nifty sustains below 11150, then it could test 11050, and below that level it could test 10950.
Instead, if Bank Nifty trades above 11150, then it could test 12000.

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 10800.

Cnx IT Intraday levels and and trading tips

Today, 6190 is the crucial intraday level.

If Cnx IT sustains above 6190, then it could test 6230. 
Instead, if Cnx IT trades below 6190, then it could test 6130 and below that level it could test 6060.

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.