Technical View and Trading calls of Cnx IT & Bank Nifty, 08 September 2010

Bank Nifty Intraday levels and trading tips

Today, 11140 is crucial for Intraday.

If Bank Nifty sustains below 11140, then it could test 11100, and below that level it could test 11040.
Instead, if Bank Nifty trades above 11140, then it could test 11250.

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 11400.

Cnx IT Intraday levels and and trading tips

Today, 6195 is the crucial intraday level.

If Cnx IT sustains above 6190, then it could test 6230 and above that level it could test 6280.
Instead, if Cnx IT trades below 6195, then it could test 6160 and below that level it could test 6120.

Short term Technical View of Cnx IT

The level 6230 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 6230, then it could test 6500.