Technical View of Cnx IT & Bank Nifty, 31 October 2014

Bank Nifty Intraday levels and trading tips

Today, 16800 is crucial for Intraday.

If Bank Nifty sustains below 16800 then it could test 16600 and below that level it could test 16500.

Instead, if Bank Nifty trades above 16800, then it could test 17100.

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 16400 level is likely. Instead, if it could not sustain above 16000, then it could test 14000.

Cnx IT Intraday levels and trading tips

Today, 11250 is the crucial intraday level.

If Cnx IT sustains above 11250, then it could test 11400.
Instead, if Cnx IT trades below 11250 then it could test 11050 and below that level it could test 11000.

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.