Bank Nifty Trend for 23 Dec 2010

Bank nifty Future is not sustaining at higher level . In last trading session we saw a sharp fall in it. One can adopt the strategy to go short at higher level until it breaks its 11700 level decisively. 

RESISTANCE- It has first resistance close to the level of 11700 & above this mark the next resistance is seen close to the level of 11850.

SUPPORT: It has immediate support at 11260 mark & below this level the next support is seen close to the level of 11180

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Nifty Position For Friday 29 October 2010

Nifty future closed below its psychological level of 6000 on the expiry day of October. Last trading session nifty future was highly volatile and up side resistance for nifty future is 6101/6180 and support for nifty 5945/5900 . If nifty sustains below 6000 level we can see more correction in it till 5900.

Bank nifty future closed near to its support level. If it sustains below 12085 level we can see some more correction in it . Up side resistance for bank nifty is 12318/13461 and support is 12085/12925.

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Nifty Future Tips for 19 October 2010

Nifty future opened with a gap down after the first day of the pre-opening session and has taken support near 6005 levels . Nifty future has closed near the days high and may continue to move further upside towards 6150 to 6180 levels. Support for nifty future is at 6080/6020 levels and resistance is at 6180/6220 levels. 

Recommendation- We recommend buying on dips with strict stoploss of 5995 levels.

  Bank nifty future also opened with a gap down after the first day of the pre opening session and has taken support near 12235 levels . Bank nifty future has closed near the days high and may continue to move further upside towards 12520 to 12600 levels. 

Recommendation- We recommend buying on dips with strict stoploss of 12200 levels. 

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