Technical View of Cnx IT & Bank Nifty, 16 January 2015

Bank Nifty Intraday levels and trading tips

Today, 19350 is crucial for Intraday.

If Bank Nifty sustains below 19350 then it could test 19100 and below that level it could test 18900.

Instead, if Bank Nifty trades above 19350 then it could test 19500.

Short term Technical View of Bank Nifty

The level 17200 is crucial for Bank Nifty in the short term. As long as it trades above that level, a rally towards 20000 level is likely. Instead, if it could not sustain above 17200, then it could test 15500.

Cnx IT Intraday levels and trading tips

Today, 11580 is the crucial intraday level.

If Cnx IT sustains above 11580, then it could test 11750.
Instead, if Cnx IT trades below 11580 then it could test 11500 and below that level it could test 11450.

Short term Technical View of Cnx IT

The level 10500 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 6500 level. Instead, if it trades above 10500, then it could test 13000.