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

Bank Nifty Intraday levels and trading tips

Today, 15100 is crucial for Intraday.

If Bank Nifty sustains below 15100 then it could test 15000 and below that level it could test 14850.
Instead, if Bank Nifty trades above 15100, 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, 9850 is the crucial intraday level.

If Cnx IT sustains above 9850, then it could test 9950.
Instead, if Cnx IT trades below 9850 then it could test 9750 and below that level it could test 9550.

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.