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

Bank Nifty Intraday levels and trading tips
 

Today, 10350 is crucial for Intraday.

If Bank Nifty sustains below 10350 then it could test 10100, and below that level it could test 9950.
Instead, if Bank Nifty trades above 10350, then it could test 10500.

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, 8300 is the crucial intraday level.

If Cnx IT sustains above 8300, then it could test 8450.
Instead, if Cnx IT trades below 8300 then it could test 8200 and below that level it could test 8100.

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.