Monday, September 17, 2012

Nifty and bank nifty trading levels.

Nifty trading on Monday

Today nifty gapped up for second time with 50 points and traded in a tight range. The trade was indecisive in nature. Market bias was positive with 29 advances and 21 declines. Volume was increased compared to previous trade. Fii’s were net buyers for 2252.17 crores. Dii’s were net sellers for 837.72 crores.

Nifty trading on Tuesday

Though Fii’s were huge buyers for Monday, technically, I my perspective we see some selling pressure at higer levels on Tuesday trade. within 2 trading sessions nifty marched 200 points. Eventually we may expect profit booking at higher levels. Trading with levels is suggested.

Intraday trading tips-Nifty

Buy above 5624 T1-5651, T2-5680, T3-5706 stoploss-5606
Sell below 5606, T1-5585, T2-5566, T3-5542 stoploss-5624

Bank Nifty trading on Monday

After 7 months bank nifty crossed the 11,000 levels. Today gapped up 150 points and traded in a wide range with positive bias and closed just below 11,000 levels. Market breath was positive with 11 advances and 1 decline. Volume was increased compared to previous trade.

Bank Nifty trading on Tuesday

With 2 trading sessions bank nifty rallied 700 points. Technically I expect a selling pressure at higher levels. Trading with levels is suggested.

Intraday trading tips-Banknifty

Buy above 11,045 T1-11,114, T2-11,190, T3-11,270 stoploss-10,980
Sell below 10,980 T1-10,902, T2-10,828, T3-10,743 stoploss-11,045
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