Technical View of Bank Nifty & CNX IT, 31 October 2017

Bank Nifty Intraday levels

Today, 25050 is crucial for Intraday.

If Bank Nifty sustains below 25050 then it could test 24950 and below that level it could test 24850.

Instead, if Bank Nifty trades above 25050 then it could test 25150.

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, 10850 is the crucial intraday level.

If Cnx IT sustains above 10850, then it could test 10950.
Instead, if Cnx IT trades below 10850 then it could test 10830 and below that level it could test 10800.

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.