Nifty and bank nifty levels.
Author :
Santhanam Sudhakar
Blog :subhasharecare
Date: 9/3/2012 1:03:00 PM
Nifty on Monday
Today nifty traded in a tight range with negative bias and closed below the crucial support 5258 levels. Volume was low compared to previous trade. Market breath was negative with 16 advances and 34 declines. Fii’s were net sellers for 54.79 crores. Dii’s were net sellers for 160.7 crores. Nifty on Tuesday
The 5240 levels will act as a support for Tuesday trade. Technically, as the volume was declined in previous trade we may expect buying in nifty. The 5258 levels will be a crucial resistant to be watched for Tuesday trade.
Buy above 5261 T1-5275, T2- 5288, T3-5303 stoploss-5243
Sell below 5243 T1-5228, T2-5216, T3-5197 stoploss-5258 Bank Nifty on Monday
Today banknifty traded in a tight range with negative bias and closed below the 10,000 levels. It tested the crucial support 9,950 levels. Volume was low compared to previous trade. Market breath was negative with 3 advances and 9 declines. Bank Nifty on Tuesday
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 9,970 T1-10,030, T2-10,085. T3-10,130 stoploss-9,940
Sell below 9,940 T1-9,880, T2-9,830, T3-9,770 stoplos-9,970
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