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BankNifty Spot
(Updated on 17-07-12 Time 09.00 AM)
Banking space seems loosing steam at higher levels
It has to crossover 10638-10660.
Below 10525 bear will assume power and see
more panic and may dip even further
to 10465-10435-10365.
Above 10660 no problem for bulls
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Nifty Future
(Updated on 17-07-12 Time 08.40 AM)
We were short from 5260 and booked at 5210
As expected markets continued correction and lost the
level of 5200.
We hinted yesterday NF would face resistance at 5262-5279.
It formed high at 5261 and crashed.
Yesterday we indicated that 5210-5180 zone might change
the direction or from that level a bounce get triggered.
Now for today…
Above 5220 expect upward journey up to 5242-5255.
At these higher levels it may face hurdle.
Crossover with sustained volumes may add the strength and
boost the sentiment.
Below 5183 if sustains then 5169 – 5155 may not be ruled out
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BankNifty Spot
(Updated on 16-07-12 Time 09.00 AM)
Below 10525 more panic and may dip even further
to 10465-10435-10365.
Above 10630 no problem for bulls
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Nifty Future
(Updated on 16-07-12 Time 08.40 AM)
As written markets continued its correction phase.
We projected that above 5245 it would take NF to 5262-5279.
See it formed high at 5276.90 and moved
down as it is hurdle zone
Now for today…
5262-5279 are intraday hurdle zone.
If it takes out that levels then expect 5218-5350.
Below 5225 it may take 5210-5180 which is strong
support zone and may reverse the trend.
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BankNifty Spot
(Updated on 13-07-12 Time 08.00 AM)
Below 10525 looks bearish for short term
and likely to extend the correction up to
10463-10418-10362
Trading above 10645 may take it to
10675-10690
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Nifty Spot
(Updated on 13-07-12 Time 07.40 AM)
Yesterday it penetrated intraday lower
support at 5292 as it opened gap down.
It also breached 5263 short term support zone.
Now for today…
Correction seems to be continue and below 5274-5285
Zone markets likely to remain under pressure for short term.
Below 5225 expect 5210-5191.
But buying support likely to emerge at 5200-5180 levels.
Trading above 5245 with sustained volumes likely
to elevate higher at 5262-5279 which is intraday
hurdle zone.
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