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

Bank Nifty Intraday levels and trading tips

Today, 11200 is crucial for Intraday.

If Bank Nifty sustains below 11200 then it could test 11100, and below that level it could test 11000.
Instead, if Bank Nifty trades above 11200, then it could test 11400.

Short term Technical View of Bank Nifty

The level 9900 is crucial for Bank Nifty in the short term. As long as it trades above that level, a rally towards 12000 level is likely. Instead, if it trades below 9900, then it could test 9500.

Cnx IT Intraday levels and trading tips

Today, 10300 is the crucial intraday level.

If Cnx IT sustains above 10300, then it could test 10400.
Instead, if Cnx IT trades below 10300 then it could test 10250 and below that level it could test 10200.

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.