Technical View of Bank Nifty & CNX IT, 16 October 2017

Bank Nifty Intraday levels

Today, 24600 is crucial for Intraday.

If Bank Nifty sustains below 24600 then it could test 24550 and below that level it could test 24500.

Instead, if Bank Nifty trades above 24600 then it could test 24850.

Short term Technical View of Bank Nifty

The level 25000 is crucial for Bank Nifty in the short term. As long as it trades above that level, a rally towards 28000 level is likely. Instead, if it could not sustain above 25000, then it could test 23500.

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Cnx IT Intraday levels 

Today, 10900 is the crucial intraday level.

If Cnx IT sustains above 10900, then it could test 11000.
Instead, if Cnx IT trades below 10900 then it could test 10870 and below that level it could test 10850.

Short term Technical View of Cnx IT

The level 11000 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 10100, then it could test 12000.