TECHNICAL OUTLOOK, 26 SEPTEMBER

Nifty (spot) 4110.55



Nifty Intraday trading levels

Today, if Nifty trades below 4150, then it could test 4050. Instead, if it trades above 4150, then it could test 4210.



Nifty Trading Strategy for intraday and positional trading

For intraday, the crucial level is 4150. Trade short below this level and trade long above this level.

Positional traders can initiate shorts if it fails to sustain above 4210.



Short term Technical View of Nifty

Now, the rally from the low of 3800 to 4305 is being corrected. The most likely level for Nifty to terminate its correction is around 3900-3950 level.

In the upper side, Nifty is likely to turn bullish for short term, if it trades above 4240. Until then the trend would remain bearish.




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



Abb

The levels 860 in the upper side and 780 in the lower side are crucial level for this scrip for the short term. If it fails to sustain above 860, then it is likely to decline towards 780.

Like wise, if it fails to move below 780 in coming trading sessions, then it is likely to turn bullish and it could rally from these levels towards 860 initially.


Trading Strategy for Abb

For intraday, the crucial level is 860. Trade long above this level and trade short below this level.

Positional traders can initiate shorts if it fails to sustain above 860 for a target of 780. Initiate longs if it sustains above 860 for a target of 930 with 840 as stop.



Acc

The crucial levels for the short term for this scrip are 635 and 570. If it sustains above 635, then it is likely to turn bullish and in the upper side it could test 720.

Instead, if it fails to sustain above 635, then the short term trend would turn bearish and in the downside it is likely to decline towards 570.

Trading Strategy for Acc

For Intraday, the crucial level is 618. Trade long above this level and trade short below this level.

Positional traders can initiate longs if it fails to move below 570. And initiate shorts if it sustains below 635.



Sail

The level 147 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 160.

If it fails to sustain above 147, then the trend would turn bearish and in the downside it is likely to decline towards 135.


Trading Strategy for Sail

For intraday, the crucial level is 147. Trade long above this level and be short below this level.

Positional traders can initiate shorts if it fails to sustain above 147. Initiate longs if it fails to move below 135 for a target of 160.





Tata Steel

The level 510 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 to 600.

Instead, if it fails to trade above 510, the short term trend would turn bearish and in the downside it is likely to decline towards 460.



Trading Strategy for Tatasteel

For intraday, the crucial level is 500. Trade long above this level and be short below this level.

Positional traders can initiate shorts if the scrip fails to sustain above 510. Initiate longs if it fails to move below 460.




Ongc

The crucial level for the scrip in the short term is 1100. The trend would remain bearish for this scrip if it sustains below 1100 and in the down side, it could test 1000.

If the level 1000 is not violated in the short term, then the scrip is likely to turn bullish in the short term.

Trading Strategy for Ongc

For intraday, the crucial level is 1100. Trade long above this level and be short below this level.

Positional traders can initiate longs if the level 1100 is held in coming trading sessions. Short if it fails to sustain above 1100 for a target of 1000.



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