Tuesday, March 16, 2010

Technical View and Trading Levels of Cnx IT & Bank Nifty, 16 March

Bank Nifty Intraday levels and range 

Today, 9075 is crucial for Intraday.
If Bank Nifty sustains below 9075, then it could test 8950 and below that level it could test 8850.
Instead, if Bank Nifty trades above 9075, then it could test 9150.

Trading strategy-Reliance, Sbi, Axis Bank, Icici Bank, Tatasteel- 16 March

Reliance

Today, 1050 is the crucial intraday level. Trade long above that level and trade short below that level.

The level 1005 is crucial for short term. Positional Traders, trade long above 1005, for a target of 1050. Trade short below 1005 for a target of 900.