Technical View of Cnx IT & Bank Nifty, 07 August 2015

Bank Nifty Intraday levels and trading tips

Today, 19050 is crucial for Intraday.

If Bank Nifty sustains below 19050 then it could test 18900 and below that level it could test 18820.

Instead, if Bank Nifty trades above 19050 then it could test 19200.

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.

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Cnx IT Intraday levels and trading tips

Today, 11570 is the crucial intraday level.

If Cnx IT sustains above 11570, then it could test 11700.
Instead, if Cnx IT trades below 11570 then it could test 11500 and below that level it could test 11400.

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.