Technical View of Cnx IT & Bank Nifty, 7 January 2014

Bank Nifty Intraday levels and trading tips

Today, 11000 is crucial for Intraday.

If Bank Nifty sustains below 11000 then it could test 10950, and below that level it could test 10900.
Instead, if Bank Nifty trades above 11000, then it could test 11200.

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, 9640 is the crucial intraday level.

If Cnx IT sustains above 9640, then it could test 9700.
Instead, if Cnx IT trades below 9640 then it could test 9580 and below that level it could test 9500.

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.