Technical View of Cnx IT & Bank Nifty, 23 May 2014

Bank Nifty Intraday levels and trading tips

Today, 15200 is crucial for Intraday.

If Bank Nifty sustains below 15200 then it could test 15050 and below that level it could test 14950.
Instead, if Bank Nifty trades above 15200, then it could test 15500.

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, 8900 is the crucial intraday level.

If Cnx IT sustains above 8900, then it could test 9350.
Instead, if Cnx IT trades below 8900 then it could test 8750 and below that level it could test 8550.

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.