Wednesday, December 14, 2011

Nifty, Bank Nifty and CNXIT

I'm posting what I may feel is the roadmap for Nifty - I expect 4300 or so shortly if we dont sustain above 4300 then we may head to 3900 / 3700

4300 can come by Feb end or earlier and we may then head up to 5600


In the case of Bank Nifty - things look worse. I expect a 7800 hit first and then move back up to 10000 or so and then collapse to 7200 / 6500


CNXIT on the other hand can make it to 7400

A close below 6000 can give it support at 5800 - below 5700 the index will crack . One can actually enter a short here with a SL @ 6379 on closing basis and build shorts below 5700

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