Technical Views - Equities 30th May 2011
NIFTY
TREND : We are on the right path for our first target 5515. The levels for the day are 5440 - 5480. I have a bullish bias in my heart but my mind will play both the long and short signals for the day
SIGNAL : Use buy and sell signals of TDI - BS only for the day.
BankNifty
TREND : The momentum in BankNifty was so good that it nearly achieved its first target of 10700 on friday itself. we expect some consolidation before it heads towards its 2nd target of 10850
SIGNAL : Use buy and sell signals of TDI - BS for the day
CNXIT
TREND : On expected lines, the bullishness of its peers helped CNXIT cover some ground. The verdict is clear no buy, but if there is weakness then only sell CNXIT else avoid trading in the same
SIGNAL: avoid signals
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