Technical View of Cnx IT & Bank Nifty, 4 April 2014

Bank Nifty Intraday levels and trading tips

Today, 12650 is crucial for Intraday.

If Bank Nifty sustains below 12650 then it could test 12520, and below that level it could test 12400.
Instead, if Bank Nifty trades above 12650, then it could test 12800.

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, 9550 is the crucial intraday level.

If Cnx IT sustains above 9550, then it could test 9650.
Instead, if Cnx IT trades below 9550 then it could test 9450 and below that level it could test 9350.

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.