Saturday, September 15, 2012

Nifty and bank nifty trading levels.

Nifty trading on Friday

Today market gapped up nearly 90 points and traded in a wide range with positive bias and closed above the 5550 levels. Volume was increased compared to previous trade. Market breath was positive with 40 advances and 10 declines. Fii’s were net buyers for 2833.72. Dii’s were net sellers for 688 crores.

Nifty trading on Monday

As Fii’s were net buyers on Friday we may expect an up move on Monday. As there is a huge gap up intraday traders should be careful at higher levels. Technically, I expect selling pressure at higher levels. Trading with levels is suggested.

Intraday trading tips-Nifty

Buy above 5585 T1-5606, T2-5633, T3-5654 stoploss-5566
Sell below 5566 T1-5542, T2-5520, T3-5496 stoploss-5585

Bank Nifty trading on Friday

Bank nifty gapped up 200 points and traded in a wide range with positive bias and closed above the 10,600 levels. Volume was increased compared to previous trade. Market breath was positive with 12 advances.

Bank Nifty trading on Monday

Global cues will lead the market on Monday. As volume was increased we may expect an up move however intraday traders should be cautious at higher levels. Trading with levels is suggested.

Intraday trading tips-Banknifty

Buy above 10,674 T1- 10,747, T2-10,820, T3-10,894 stoploss-10,622
Sell below 10,622 T1-10,550, T2-1010, 484, T3-10,419 stoploss-10,674
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