Tuesday, February 02, 2010

Technical View and Trading Levels of Cnx IT & Bank Nifty,02 February

Bank Nifty Intraday levels and range 

Today, 8600 is crucial for Intraday.
If Bank Nifty sustains below 8600, then it could test 8500.
Instead, if Bank Nifty trades above 8600, then it could test 8800.


Trading strategy-Reliance, Sbi, Axis Bank, Icici Bank, Tatasteel, 2 February

Reliance
Today, 1050 is the crucial intraday level. Trade long above that level and trade short below that level. 
The level 1050 is crucial for short term. Positional Traders, trade long above 1050, for a target of 1080. Trade short below 1050 for a target of 940.