Monday, January 10, 2011

NIFTY TODAY
Today nifty traded in a wide range with negative bias and closed the 5800 levels. Volume was low compared to previous trade. Market breath was negative with 3 advances and 47 declines. FII’s were net sellers for 1138.78 crores. DII’s were net buyers for 1018.54 crores.
BANK NIFTY TODAY
Today bank nifty traded in a wide range with negative bias and closed around the 10700 levels. Market breath was negative with 1 advance and 11 declines. Volume was low compared to previous trade.

NIFTY TOMORROW
Global cues would lead the market tomorrow. As the FII’s were net sellers we should be careful at higher levels. The 5760 levels is major support. Technically, for tomorrow trade, I strongly believe that nifty would close above 5800 levels. My bias would be positive for tomorrow trade.
NIFTY TIPS
BUYABVOE 5760 T1 – 5790, T2 – 5820, T3 – 5850 STOPLOSS – 5740
SELL BELOW 5740 T1 – 5710, T2 – 5680, T3 – 5650 STOPLOSS – 5760

BANK NIFTY TOMORROW
Technically, for tomorrow trade, I expect a strong recovery. The 10,680 levels would be crucial level to be watched. In my perspective, bank nifty may close around 10950 – 11,050 levels tomorrow, I hope so.
BANK NIFTY TIPS
BUY ABOVE 10,760, T1 – 10,820, T2 – 10,880, T3 – 10,940 STOPLOSS – 10700
SELL BELOW 10,700 T1 – 10,640, T2 – 10,580, T3 – 10,520 STOPLOSS – 10,760

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