Technical View of Cnx IT & Bank Nifty, 16 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 17600 and below that level it could test 17500.

Instead, if Bank Nifty trades above 17750 then it could test 17950.

Short term Technical View of Bank Nifty

The level 17850 is crucial for Bank Nifty in the short term. As long as it trades above that level, a rally towards 18350 level is likely. Instead, if it could not sustain above 17850, then it could test 14500.

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Cnx IT Intraday levels and trading tips

Today, 11300 is the crucial intraday level.

If Cnx IT sustains above 11300, then it could test 11500.
Instead, if Cnx IT trades below 11300 then it could test 11250 and below that level it could test 11200.

Short term Technical View of Cnx IT

The level 12000 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 10500 level. Instead, if it trades above 12000, then it could test 13000.