Friday, April 23, 2010

Technical View and Trading Levels of Cnx IT & Bank Nifty, 23 April

Bank Nifty Intraday levels and range 

Today, 9570 is crucial for Intraday.
If Bank Nifty sustains below 9570, then it could test 9510.
Instead, if Bank Nifty trades above 9570, then it could test 9700.

Trading strategy-Reliance, Sbi, Axis Bank, Icici Bank, Tatasteel- 23 April

Reliance
Today, 1040 is the crucial intraday level. Trade long above that level and trade short below that level.

The level 1040 is crucial for short term. Positional Traders, trade long above 1040, for a target of 1100. Trade short below 1040 for a target of 980.