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

Bank Nifty Intraday levels and trading tips

Today, 12950 is crucial for Intraday.

If Bank Nifty sustains below 12950 then it could test 12850, and below that level it could test 12800.
Instead, if Bank Nifty trades above 12950, then it could test 13130.

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, 9200 is the crucial intraday level.

If Cnx IT sustains above 9200, then it could test 9280.
Instead, if Cnx IT trades below 9200 then it could test 9150 and below that level it could test 9100.

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.