Tuesday, September 4, 2012

Nifty and bank nifty levels.

Nifty on Tuesday

Today nifty traded in a tight range with positive bias and closed above the crucial 5258 levels. Volume remained unchanged compared to previous trade.Market breath was positive with 32 advances and 18 declines. Fii’s were net buyers for 304.41 crores. Dii’s were net sellers for 105.6 crores.

Nifty on Wednesday

Technically, the 5280 levels will be strong resistant for up move. As Fii’s were net buyers we may expect an up move. Still the 5258 levels will be crucial level to be watched for tomorrow trade. In my view we may go long with 5258 as a stop.
Buy above 5280 T1-5303, T2-5327, T3-5350 stoploss-5263
Sell below 5263 T1-5243 T2-5228, T3-5216 stoploss-5280

Bank Nifty on Tuesday

Today bank nifty traded in a tight range with positive bias and closed above the 10,000 levels. Volume remained unchanged compared to previous trade.Market breath was positive with 8 advances and 4 declines.

Bank Nifty on Wednesday

Technically, we may see an up move in banknifty tomorrow. However, trading with levels is suggested. The 9,950 levels will be a crucial level to be watched. The 10,040 levels will act as a strong resistant.
Buy above 10,040 T1-10,085,T2-10,130, T3-10,080 stoploss- 10,000
Sell below 9,990 T1-9,940, T2-9,880, T3-9,830 stoploss-10,020
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