Technical View of Cnx IT & Bank Nifty, 05 September 2014

Bank Nifty Intraday levels and trading tips

Today, 16080 is crucial for Intraday.

If Bank Nifty sustains below 16080 then it could test 15930 and below that level it could test 15800.
Instead, if Bank Nifty trades above 16080, then it could test 16250.

Short term Technical View of Bank Nifty

The level 16000 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 could not sustain above 16000, then it could test 14000.

Cnx IT Intraday levels and trading tips

Today, 11050 is the crucial intraday level.

If Cnx IT sustains above 11050, then it could test 11100.
Instead, if Cnx IT trades below 11050 then it could test 10900 and below that level it could test 10850.

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.