Technical View of Cnx IT & Bank Nifty, 16 August 2013

Bank Nifty Intraday levels and trading tips
 

Today, 10070 is crucial for Intraday.

If Bank Nifty sustains below 10070 then it could test 9900, and below that level it could test 9800.
Instead, if Bank Nifty trades above 10070, then it could test 100150.

Short term Technical View of Bank Nifty

The level 10500 is crucial for Bank Nifty in the short term. As long as it trades below that level, a decline to 9000 level is likely. Instead, if it trades above 10500, then it could test 11000.

Cnx IT Intraday levels and and trading tips
 

Today, 7990 is the crucial intraday level.

If Cnx IT sustains above 7990, then it could test 8050.
Instead, if Cnx IT trades below 7990 then it could test 7930 and below that level it could test 7850.

Short term Technical View of Cnx IT

The level 7950 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 6800 level. Instead, if it trades above 7950, then it could test 8200.