Technical View of Cnx IT & Bank Nifty, 16 June 2014

Bank Nifty Intraday levels and trading tips

Today, 15050 is crucial for Intraday.

If Bank Nifty sustains below 15050 then it could test 14800 and below that level it could test 14600.
Instead, if Bank Nifty trades above 15050, then it could test 15150.

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, 9650 is the crucial intraday level.

If Cnx IT sustains above 9650, then it could test 9900.
Instead, if Cnx IT trades below 9650 then it could test 9450 and below that level it could test 9350.

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.