Daily Newsletter
D Sathia Moorthy
Nifty (spot) 4072.90
Nifty Intraday trading levels
Today, if Nifty trades above 4150, then it could test 4200. Instead, if it fails to move above 4150, then it could decline towards 4070.
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 move above 4200. Initiate longs if it sustains above 4200.
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 4200 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
ICICI Bank
The level 550 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 640 is crucial. If it trades above this level, then it would turn bullish further.
Instead, if it fails to move above 640, then in the downside it has potential of testing 550.
Trading Strategy for ICICI Bank
For intraday, the crucial level is 600. Trade long above this level and trade short below this level.
Positional traders can initiate shorts if it fails to move above 640. Initiate longs if it sustains above 640.
Tata Motors
The crucial level for the short term for this scrip is 385. If it sustains above this level, then it is likely to turn bullish and in the upper side, if it moves above 415, then it is likely to rally further.
Instead, if it fails to move above 415, then the short term trend would turn bearish and in the downside it is likely to decline towards 385.
Trading Strategy for Tatamotors
For Intraday, the crucial level is 395. Trade long above this level and trade short below this level.
Positional traders can initiate shorts if it fails to clear 415. And initiate longs if it sustains above 415.
Bombay Dyeing
The level 535 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 600.
If it fails to sustain above 535, trend would remain bearish and in the downside it is likely to decline towards 450.
Trading Strategy for Bom dyeing
For intraday, the crucial level is 490. Trade long above this level and be short below this level.
Positional traders can initiate shorts if it fails to move above 535. Initiate longs if it sustains above 535.
Divislab
The level 1430 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 1430, the short term trend would turn bearish and in the downside it is likely to decline towards 1320.
Trading Strategy for Divislab
For intraday, the crucial level is 1375. Trade long above this level and be short below this level.
Positional traders can initiate shorts if the scrip fails to move above 1430. Initiate longs if it sustains above 1430.
Gail
The crucial level for the scrip in the short term is 400 in the downside and the short term trend would remain bullish as long as it sustains above this level.
Instead, if it trades below 400, the short term trend would turn bearish and in the downside it is likely to decline towards 360.
Trading Strategy for Gail
For intraday, the crucial level is 420. Trade long above this level and be short below this level.
Positional traders can initiate longs with a stop at 400. Short if it fails to sustain above 400.
