Technical View and Trading calls of Cnx IT & Bank Nifty, 06 September 2010

Bank Nifty Intraday levels and trading tips

Today, 10980 is crucial for Intraday.

If Bank Nifty sustains below 10980, then it could test 10930, and below that level it could test 10850.
Instead, if Bank Nifty trades above 10980, then it could test 11030.

Short term Technical View of Bank Nifty

The level 11200 is crucial for Bank Nifty in the short term. As long as it trades below that level, a decline to 9800 level is likely. Instead, if it trades above 11200, then it could test 11400.

Cnx IT Intraday levels and and trading tips

Today, 6100 is the crucial intraday level.

If Cnx IT sustains above 6100, then it could test 6150 and above that level it could test 6200.
Instead, if Cnx IT trades below 6100, then it could test 6050 and below that level it could test 6000.

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.