Thursday, August 30, 2012

Nifty and bank nifty levels.

Nifty on Thursday

Nifty traded in a rather wide range in positive bias and managed to close above the 5300 levels. Volume was very high compared to previous trade. Market breath was positive with 33 advances and 17 declines. Fii’s were net buyers for 2306.1 crores and Dii’s were net buyers for 328.11 crores.

Nifty on Friday

As Fii’s were huge buyers on Thursday we may expect an up move today. Technically 5340 will act as a resistant for today trade. The 5258 levels will be a strong support. In my view I expect a tight range trade.

Intraday tips for nifty

Buy above 5320 T1-5340, T2-5358 Stoploss 5300 Sell below 5300 T1-5280, T2-5258 Stoploss-5320

Bank nifty on Thursday

Bank nifty traded in a rather wide range with positive bias and closed above the 10,000 levels. Volume was very high. Market breath was positive with 10 advances and 2 declines.

Bank nifty on Friday

The 9,950 levels will a strong support. Technically we can buy banknifty for intraday.

Intradaty tips forBank nifty

Buy above 10,105 T1-10,150, T-2 10,210 Sell below 10,070 T-10,000, T-29,950

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