Technical View of Cnx IT & Bank Nifty, 12 May 2014

Bank Nifty Intraday levels and trading tips

Today, 13800 is crucial for Intraday.

If Bank Nifty sustains below 13800 then it could test 13500, and below that level it could test 13000.
Instead, if Bank Nifty trades above 13800, then it could test 14200.

Short term Technical View of Bank Nifty

The level 12300 is crucial for Bank Nifty in the short term. As long as it trades above that level, a rally towards 14700 level is likely. Instead, if it trades below 12300, then it could test 10000.

Cnx IT Intraday levels and trading tips

Today, 9050 is the crucial intraday level.

If Cnx IT sustains above 9050, then it could test 9200.
Instead, if Cnx IT trades below 9050 then it could test 8800 and below that level it could test 8700.

Short term Technical View of Cnx IT

The level 10500 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 6500 level. Instead, if it trades above 10500, then it could test 13000.