TECHNICAL OUTLOOK, 5 SEPTEMBER

DAILY NEWSLETTER


Nifty, RPL, Hdfc Bank, Mtnl, Ntpc


D Sathia Moorthy



Nifty (spot) 4447.75



Short term Technical View of Nifty

Now, Nifty is likely to rally towards 4700 by this month end and the next short term correction is likely to occur around 4700 level. This view holds good as long as Nifty stays above 4400.

Instead, if it fails to hold above 4350-4400 level, then it could decline towards 4200.



Extreme Short term technical view of Nifty

In the extreme short term, the level 4350-4400 is crucial. A long as Nifty sustains above this level, the trend would remain bullish.



Nifty Intraday trading levels

Today, if Nifty trades above 4380, then it could test 4475. Instead, if it sustains below 4380, then it could test 4350.



Trading Strategy for Nifty

For intraday, the crucial level is 4380. Trade long above this level and be short below this level.

Positional traders can hold their longs with a stop at 4350 for a target of 4700. Exit your longs if it trades below 4
350.




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



RPL

The short term trend of this scrip is looking bullish and it is likely to test 185 in the short term and this view holds good as long as it sustains above 150.

On contrary, if it trades below 150, the short term trend would turn bearish and in the downside it is likely to decline towards 135.


Trading Strategy for RPL

For intraday, the crucial level is 154. Trade long above this level and be short below this level.

Positional traders can initiate longs on declines with a stop at 150. In case 150 is violated, then short with a stop at 154.




HDFC BANK

The short term trend of this scrip is looking bullish and it is likely to test 1450 in the short term and this view holds good as long as it sustains above 1260.

On contrary, if it moves below 1260, then the short term trend would turn bearish and in the downside it is likely to decline towards 1150.


Trading Strategy for Hdfc Bank

The crucial level is 1260 in the short term. Trade long above this level and be short below this level.




Infosys

The short term trend of this scrip is looking bullish and it is likely to test 1900 in the short term and this view holds good as long as it sustains above 1700.

On contrary, if it trades below 1700, the short term trend would turn bearish and in the downside it is likely to decline towards 1600.


Trading Strategy for Infosys

For intraday, the crucial level is 1740. Trade long above this level and be short below this level.

Positional traders can initiate longs on declines with a stop at 1700.





MTNL

The short term trend of this scrip is looking bullish and it is likely to test 120 in the short term and this view holds good as long as it sustains above 90.

On contrary, if it trades below 90, the short term trend would turn bearish and in the downside it is likely to decline towards 80.


Trading Strategy for MTNL

For intraday, the crucial level is 96. Trade long above this level and be short below this level.

Positional traders can initiate longs on declines with a stop at 90.





NTPC

The short term trend of this scrip is looking bullish and it is likely to test 195 in the short term and this view holds good as long as it sustains above 165.

On contrary, if it trades below 165, the short term trend would turn bearish and in the downside it is likely to decline towards 150.


Trading Strategy for NTPC

For intraday, the crucial level is 169. Trade long above this level and be short below this level.

Positional traders can initiate longs on declines with a stop at 165. Initiate short if it moves below 165, with a stop at 169.







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