Technical View of Cnx IT & Bank Nifty, 8 August 2014

Bank Nifty Intraday levels and trading tips

Today, 14950 is crucial for Intraday.

If Bank Nifty sustains below 14950 then it could test 14850 and below that level it could test 14800.
Instead, if Bank Nifty trades above 14950, then it could test 15150.

Short term Technical View of Bank Nifty

The level 15750 is crucial for Bank Nifty in the short term. As long as it trades above that level, a rally towards 17000 level is likely. Instead, if it trades below 15750, then it could test 14000.

Cnx IT Intraday levels and trading tips

Today, 10300 is the crucial intraday level.

If Cnx IT sustains above 10300, then it could test 10480.
Instead, if Cnx IT trades below 10300 then it could test 10200 and below that level it could test 10100.

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.