Technical View of Cnx IT & Bank Nifty, 7 January 2015

Bank Nifty Intraday levels and trading tips

Today, 18425 is crucial for Intraday.

If Bank Nifty sustains below 18425 then it could test 18300 and below that level it could test 18200.

Instead, if Bank Nifty trades above 18425, then it could test 18550.

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, 11050 is the crucial intraday level.

If Cnx IT sustains above 11050, then it could test 11150.
Instead, if Cnx IT trades below 11050 then it could test 10950 and below that level it could test 10900.

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.