Technical View of Cnx IT & Bank Nifty, 17 April 2014

Bank Nifty Intraday levels and trading tips

Today, 12500 is crucial for Intraday.

If Bank Nifty sustains below 12500 then it could test 12400, and below that level it could test 12200.
Instead, if Bank Nifty trades above 12500, then it could test 12900.

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, 9250 is the crucial intraday level.

If Cnx IT sustains above 9250, then it could test 9500.
Instead, if Cnx IT trades below 9250 then it could test 9150 and below that level it could test 9000.

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.