Wednesday, May 19, 2010

Technical View and Trading Levels of Cnx IT & Bank Nifty, 19 May

Bank Nifty Intraday levels and range 

Today, 9280 is crucial for Intraday.
If Bank Nifty sustains below 9280, then it could test 9240.
Instead, if Bank Nifty trades above 9280, then it could test 9450.

Trading strategy-Reliance, Sbi, Axis Bank, Icici Bank, Tatasteel- 19 May

Reliance
Today, 1000 is the crucial intraday level. Trade long above that level and trade short below that level.

The level 1000 is crucial for short term. Positional Traders, trade long above 1000, for a target of 1040. Trade short below 1100 for a target of 960.