Friday, July 29, 2011

Technical View and Trading calls of Cnx IT & Bank Nifty, 29 July 2011

Bank Nifty Intraday levels and trading tips
Today, 10880 is crucial for Intraday.
If Bank Nifty sustains below 10880, then it could test 10700, and below that level it could test 10600.
Instead, if Bank Nifty trades above 10880, then it could test 10950.



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 12500.








Cnx IT Intraday levels and and trading tips
Today, 6300 is the crucial intraday level.
If Cnx IT sustains above 6300, then it could test 6370.
Instead, if Cnx IT trades below 6300, then it could test 6215 and below that level it could test 6150.

Short term Technical View of Cnx IT

The level 6350 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 6350, then it could test 7000.