Technical View of Cnx IT & Bank Nifty, 23 October 2013

Bank Nifty Intraday levels and trading tips
 

Today, 10900 is crucial for Intraday.

If Bank Nifty sustains below 10900 then it could test 10600, and below that level it could test 10400.
Instead, if Bank Nifty trades above 10900, then it could test 11050.

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 trading tips
 

Today, 8950 is the crucial intraday level.

If Cnx IT sustains above 8950, then it could test 9100.
Instead, if Cnx IT trades below 8950 then it could test 8800 and below that level it could test 8600.

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.