Technical View of Bank Nifty & CNX IT, 05 January 2018

Bank Nifty Intraday levels

Today, 25600 is crucial for Intraday.

If Bank Nifty sustains below 25600 then it could test 25500 and below that level it could test 25450.

Instead, if Bank Nifty trades above 25600 then it could test 25750.

Short term Technical View of Bank Nifty

The level 24800 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 24800, then it could test 23500.

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Cnx IT Intraday levels 

Today, 11650 is the crucial intraday level.

If Cnx IT sustains above 11650, then it could test 11750.
Instead, if Cnx IT trades below 11650 then it could test 11550 and below that level it could test 11500.

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.