TECHNICAL OUTLOOK, 18 SEPTEMBER

Daily Newsletter


D Sathia Moorthy


Nifty (spot) 4008.25



Nifty Intraday trading levels

Today, if Nifty trades above 3950, then it could test 4050. Instead, if it fails to sustain above 3950, then it could decline towards 3800.



Nifty Trading Strategy for intraday and positional trading

For intraday, the crucial level is 3950. Trade short below this level and trade long above this level.

Positional traders can initiate shorts if it fails to sustain above 3950. Initiate longs if it sustains above 3950.




Short term Technical View of Nifty

Now, the level 4200 in the upper side is crucial in the short term. As long as it trades below this level, the short term trend is likely to remain bearish. If it trades above 4200, then it could test 4350.

If it fails to move above 4200, then it is likely to decline towards 4070 initially.


The level 3950 is crucial in the downside.



Extreme Short term technical view of Nifty

In the extreme short term, the level 3950 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 bull run 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



Ongc

The level 900 is crucial in the short term for this scrip. If it sustains above this level, then it is likely to turn bullish. In the upper side the level 1000 is crucial. If it moves above this level, then it is likely to rally further towards 1100.

Instead, if it fails to move above 1000, then in the downside it has potential of testing 900.


Trading Strategy for Ongc

For intraday, the crucial level is 970. Trade long above this level and trade short below this level.

Positional traders can initiate shorts if it fails to move above 1000. Initiate longs if it sustains above 900.



Reliance Capital

The crucial level for the short term for this scrip is 990. If it sustains above this level, then it is likely to turn bullish and in the upper side, if it moves above 1150, then it is likely to rally further.

Instead, if it fails to sustain above 990, then the short term trend would turn bearish and in the downside it is likely to decline towards 800.

Trading Strategy for Reliance Capital

For Intraday, the crucial level is 1045. Trade long above this level and trade short below this level.

Positional traders can initiate longs if it fails to move below 990. And initiate shorts if it sustains below 990.



Rolta

The level 250 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 320.

If it fails to sustain above 250, trend would turn bearish and in the downside it is likely to decline towards 210.


Trading Strategy for Rolta

For intraday, the crucial level is 273. Trade long above this level and be short below this level.

Positional traders can initiate shorts if it fails to sustain above 250. Initiate longs if it sustains above 250.





Rpl

The level 150 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.

Instead, if it fails to trade above 150, the short term trend would turn bearish and in the downside it is likely to decline towards 130.


Trading Strategy for RPL

For intraday, the crucial level is 146. Trade long above this level and be short below this level.

Positional traders can initiate shorts if the scrip fails to move above 150. Initiate longs if it sustains above 130.




Sail

The crucial level for the scrip in the short term is 125 in the downside and the short term trend would remain bullish as long as it sustains above this level.

Instead, if it trades below 125, the short term trend would turn bearish and in the downside it is likely to decline towards 110.



Trading Strategy for Sail

For intraday, the crucial level is 137. Trade long above this level and be short below this level.

Positional traders can initiate longs if the level 125 is held. Short if it fails to sustain above 125.



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