Technical View of Cnx IT & Bank Nifty, 16 June 2015

Bank Nifty Intraday levels and trading tips

Today, 17600 is crucial for Intraday.

If Bank Nifty sustains below 17600 then it could test 17300 and below that level it could test 17000.

Instead, if Bank Nifty trades above 17600 then it could test 17750.

Short term Technical View of Bank Nifty

The level 17200 is crucial for Bank Nifty in the short term. As long as it trades above that level, a rally towards 20000 level is likely. Instead, if it could not sustain above 17200, then it could test 15000.

------------------------------------------------------------------------------------------------------------------------

Cnx IT Intraday levels and trading tips

Today, 11170 is the crucial intraday level.

If Cnx IT sustains above 11170, then it could test 11250.
Instead, if Cnx IT trades below 11170 then it could test 10900 and below that level it could test 10750.

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.