Daily Newsletter
D Sathia Moorthy
Nifty (spot) 4228.45
Nifty Intraday trading levels
Today, if Nifty trades below 4240, then it could test 4150. Instead, if it moves above 4240, then it could test 4320.
Nifty Trading Strategy for intraday and positional trading
For intraday, the crucial levels are 4240 and 4150. Trade in the short side, if it fails to move above 4240 and trade, long if it sustains above 4150.
Positional traders can initiate longs with a stop at 4150 on declines. Initiate short below 4150 with a stop at 4200.
Short term Technical View of Nifty
Now, Nifty is likely to turn bullish if it sustains above 4150 level and it is likely to rally towards 4700 in the short term.
Instead, if it fails to sustain above 4150 level, then it could decline towards 4000.
Extreme Short term technical view of Nifty
In the extreme short term, the level 4150 is crucial.
Medium term outlook of Nifty dated on 02 July 2008
The medium term outlook of Nifty has turned bullish and it is likely to move towards 5500 by this year end and this view holds good as long as Nifty stays above 3600.
Long term outlook of Nifty dated on 02 July 2008
The long term outlook of Nifty is looking bullish and it seems that Nifty is in the middle of this bull run. So, the bullrun is likely to continue for another 4 to 5 years and this view holds good as long as Nifty stays above 3600.
Short term trading calls of Stocks for spot market
Divislab
The level 1400 is crucial in the short term for this scrip. If it sustains above this level, then it is likely to rally from these levels to 1600 in coming weeks.
Instead, if it fails to sustain above 1400, the short term trend would turn bearish and in the downside it is likely to decline towards 1300.
Trading Strategy for Divislab
For intraday, the crucial level is 1445. Trade long above this level and trade short below this level.
Positional traders can initiate longs on declines with a stop at 1400 for a target of 1600. If it trades below 1400, initiate shorts with a stop at 1450 for a target of 1300.
ICICI Bank
The crucial level for the short term for this scrip is 600. If it sustains above this level, then it is likely to turn bullish and it is likely to rally towards 750 in coming weeks.
On contrary, if it moves below 700, then the short term trend would turn bearish and in the downside it is likely to decline towards 500.
Trading Strategy for ICICI Bank
For Intraday, the crucial level is 660. Trade long above this level and trade short below this level.
Positional traders can initiate longs on declines towards 600.
Below 600, initiate shorts with a stop at 630 for a target of 500.
IFCI
The level 139 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 55.
If it fails to sustain above 39, trend would remain bearish and in the downside it is likely to decline towards 30.
Trading Strategy for IFCI
For intraday, the crucial level is 44. Trade long above this level and be short below this level.
Positional traders can initiate longs on declines towards 39.
Infosys
The level 1570 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.
On contrary, if it trades below 1570, the short term trend would turn bearish and in the downside it is likely to decline towards 1450.
Trading Strategy for Infosys
For intraday, the crucial level is 1650. Trade long above this level and be short below this level.
Positional traders can initiate longs on declines with a stop at 1570.
M&M
The crucial level for the scrip in the short term is 520. If it sustains above this level, then it is likely to turn bullish and in the upper side it could test 600.
Instead, if it trades below 520, the short term trend would turn bearish and in the downside it is likely to decline towards 460.
Trading Strategy for M&M
For intraday, the crucial level is 555. Trade long above this level and be short below this level.
Positional traders can initiate longs on declines towards 520. Short if it fails to sustain above 520.
