Technical View and Trading calls of Cnx IT & Bank Nifty, 16 September 2010

Bank Nifty Intraday levels and trading tips

Today, 11970 is crucial for Intraday.

If Bank Nifty sustains below 11970, then it could test 11890, and below that level it could test 11840.
Instead, if Bank Nifty trades above 11970, then it could test 12100.

Short term Technical View of Bank Nifty

The level 11200 is crucial for Bank Nifty in the short term. As long as it trades below that level, a decline to 9800 level is likely. Instead, if it trades above 11200, then it could test 12500.

Cnx IT Intraday levels and and trading tips

Today, 6560 is the crucial intraday level.

If Cnx IT sustains above 6560, then it could test 6590 and above that level it could test 6650.
Instead, if Cnx IT trades below 6560, then it could test 6470 and below that level it could test 6400.

Short term Technical View of Cnx IT

The level 6350 is crucial for Cnx IT is the short term. If it fails to move above this level, then it is likely to see a short term correction towards 5650 level. Instead, if it trades above 6350, then it could test 7000.

Trading strategy and intraday tips -Reliance, Sbi, Axis Bank, Icici Bank, Tatasteel- 16 September 2010

Reliance

Today, 1010 is the crucial intraday level. Trade long above that level and trade short below that level.

The level 1010 is crucial for short term. Positional Traders, trade long above 1010, for a target of 1045. Trade short below 1010 for a target of 975.

SBI

Today, 3115 is the crucial intraday level. Trade long above that level and trade short below that level.

The level 3115 is crucial for short term. Positional Traders, trade long above 3115, for a target of 3220. Trade short below 3115 for a target of 2980.

Axis Bank

Today, 1475 is the crucial intraday level. Trade long above that level and trade short below that level.

The level 1475 is crucial for short term. Positional Traders, trade long above 1475, for a target of 1510. Trade short below 1475 for a target of 1435.

Icici Bank

Today, 1085 is the crucial intraday level. Trade long above that level and trade short below that level.

The level 1085 is crucial for short term. Positional Traders, trade long above 1085, for a target of 1140. Trade short below 1085 for a target of 1050.

Tata Steel

Today, 590 is the crucial intraday level. Trade long above that level and trade short below that level.

The level 590 is crucial for short term. Positional Traders, trade long above 590, for a target of 620. Trade short below 590 for a target of 555.