Nifty (spot) 5053.05
Nifty Intraday trading levels and range
Today, if Nifty sustains below 5040, then it could test 4980 and below that level, it could test 4940.
Instead, if Nifty trades above 5040, then it could test 5080 and above that level it could test 5110.
Nifty is likely to form a lower top below 5180. The next crucial level is 5080 to 5110.
Nifty intraday Trading Strategy
For intraday, the crucial level is 5040. Trade short below this level and trade long above this level.
Nifty Positional Trading Strategy
Positional traders can initiate shorts if it fails to sustain above 4960 for a target of 4500 with a stop at 4960 and trade long above 4960 for a target of 5080 with a stop at 4960.
Short term Technical View of Nifty
Nifty is likely to test 4500 initially in the downside, if it fails to move above 4960 in coming trading sessions. And if it trades above 4960, then it could test 5080 levels.
Medium term outlook of Nifty dated on 20 May 2009
The medium term outlook of Nifty would remain bearish if it fails to sustain above 5200. Nifty is likely to bottom out in the medium term at 2000-2200 levels in coming months and if it fails to sustain above this level, then it is likely to decline below 2000 levels.
Long term outlook of Nifty dated on 30 June 2009
The long term outlook of Nifty is looking bearish and it seems that Nifty is likely to bottom out in 3 years.
Short term trading calls of Stocks for spot market
Reliance (spot)
The level 2100 is crucial for short term. If it sustains above 2100, then it is likely to rally towards 2180.
Instead, if it fails to sustain above 2100 in coming trading sessions, then it is likely to turn weak and it could decline towards 1900 initially.
Trading Strategy for Reliance
For intraday, the crucial level is 2130. Trade long above these levels and trade short below these levels.
Positional traders can initiate longs if it sustains above 2100 for a target of 2180. Initiate shorts if it fails to sustain above 2100 for a target of 1900.
SBI (spot)
The crucial level for the short term for this scrip is 2380. If it fails to sustain above 2380, then it is likely to turn bearish and in the down side it could test 2050 in coming trading sessions.
Instead, if it sustains above 2380, then the short term trend would turn bullish and in the upper side it is likely to move towards 2450.
Trading Strategy for SBI
For Intraday, the crucial level is 2380. Trade long above this level and trade short below this level.
Positional traders can initiate shorts if it fails to sustain above 2380 for a target of 2050. And initiate longs if it sustains above 2350 for a target of 2450.
Rcom (spot)
The level 185 is crucial in the short term. If the scrip trades above this level, the short term would turn bullish and in the upper side it could test 195.
If it fails to sustain above 185, then the trend would turn bearish and in the downside it is likely to decline towards 130 initially.
Trading Strategy for Rcom
For intraday, the crucial level is 173. Trade long above this level and be short below this level.
Positional traders can initiate shorts if it fails to sustain above 185 for a target of 130. Initiate longs if it sustains above 185 for a target of 195.
Icici Bank (spot)
The level 905 is crucial for this scrip in the short term. If it sustains above this level, then it is likely to see a rally from these levels towards 930.
Instead, if it fails to sustain above 905, the short term trend would turn bearish and in the downside it is likely to decline towards 830 initially.
Trading Strategy for Icici Bank
For intraday, the crucial level is 930 . Trade long above this level and be short below this level.
Positional traders can initiate shorts if the scrip fails to sustain above 905 for a target of 830. Initiate longs if it sustains above 905 for a target of 930.
Tata Steel (spot)
The crucial level for the scrip in the short term is 535. The trend would remain bearish for this scrip if it sustains below 535 and in the down side, it could test 450 initially.
If the scrip sustains above 535, then the scrip is likely to turn bullish in the short term and in the upper side it could rally towards 555.
Trading Strategy for Tata Steel
For intraday, the crucial level is 535. Trade long above this level and be short below this level.
Positional traders can initiate longs if the scrip sustains above 535 in the upside for a target of 555. Short if it fails to sustain above 535 for a target of 450.
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