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

Bank Nifty Intraday levels and trading tips

Today, 17750 is crucial for Intraday.

If Bank Nifty sustains below 17750 then it could test 17550 and below that level it could test 17450.

Instead, if Bank Nifty trades above 17750 then it could test 17850.

Short term Technical View of Bank Nifty

The level 17600 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 17600, then it could test 14500.

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Cnx IT Intraday levels and trading tips

Today, 11950 is the crucial intraday level.

If Cnx IT sustains above 11950, then it could test 12100.
Instead, if Cnx IT trades below 11950 then it could test 11850 and below that level it could test 11750.

Short term Technical View of Cnx IT

The level 10500 is crucial for Cnx IT in 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.