Technical View of Cnx IT & Bank Nifty, 7 August 2013

Bank Nifty Intraday levels and trading tips
 

Today, 9750 is crucial for Intraday.

If Bank Nifty sustains below 9750 then it could test 9600, and below that level it could test 9500.
Instead, if Bank Nifty trades above 9750, then it could test 9550.

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, 7900 is the crucial intraday level.

If Cnx IT sustains above 7900, then it could test 7950.
Instead, if Cnx IT trades below 7900 then it could test 7750 and below that level it could test 7700.

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.