TECHNICAL OUTLOOK, 5 NOVEMBER

Nifty (spot) 3142.10



Nifty Intraday trading levels

Today, if Nifty trades above 3150, then it could test 3300. Instead, if it sustains below 3080, then it could test 2950.


Nifty Trading Strategy for intraday and positional trading

For intraday, the crucial level is 3150. Trade short below this level and trade long above this level.

Positional traders can initiate shorts if it fails to sustain above 3080 for a target of 2500 and trade long above 3080 for a target of 3300.



Short term Technical View of Nifty


The level 3400 is crucial in the short term. Nifty is likely to top out below 3400 level with a downside target of 2500 initially.

The present rally seems to be corrective, so, once the rally peaks out, it is likely to be followed by a fall towards 2200.



Medium term outlook of Nifty dated on 14 October 2008

The medium term outlook of Nifty would remain bearish if it fails to sustain above 3100. Nifty is likely to bottom out in the medium term at 2000-2200 levels in coming months and if it fails to sustain above this level, then it is likely to decline below 2000 levels.





Long term outlook of Nifty dated on 13 October 2008

The long term outlook of Nifty is looking bearish and it seems that Nifty is likely to bottom out in 6 months to 1 year if the bottom forms around 2000. If the level 2000 is not held, then Nifty is likely to take more than 1 year to bottom out.





Short term trading calls of Stocks for spot market



Reliance (spot)

The level 1500 is crucial for this scrip for the short term. If it sustains above 1500, then it is likely to rally towards 1550.

Instead, if it fails to sustain above 1500 in coming trading sessions, then it is likely to turn weak and it could decline towards 1000 initially.

Trading Strategy for Reliance

For intraday, the crucial level is 1450. Trade long above these levels and trade short below these levels.

Positional traders can initiate longs if it moves above 1500 for a target of 1550. Initiate shorts if it fails to sustain above 1550 for a target of 1200 initially.



SBI (spot)

The crucial level for the short term for this scrip is 1390. If it fails to sustain above 1390, then it is likely to turn bearish and in the down side it could test 1000 in coming trading session.

Instead, if it sustains above 1390, then the short term trend would turn bullish and in the upper side it is likely to move towards 1450.

Trading Strategy for Sbi

For Intraday, the crucial level is 1300. Trade long above this level and trade short below this level.

Positional traders can initiate shorts if it fails to sustain above 1390 for a target of 1000. And initiate longs if it sustains above 1390 for a target of 1450.



RPL (spot)

The level 105 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 125.

If it fails to sustain above 105, then the trend would turn bearish and in the downside it is likely to decline towards 85 initially.


Trading Strategy for RPL

For intraday, the crucial level is 95. Trade long above this level and be short below this level.

Positional traders can initiate shorts if it fails to sustain above 105 for a target of 85. Initiate longs if it sustains above 105 for a target of 125.





Satyam (spot)

The level 325 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 towards 390.

Instead, if it fails to sustain above 325, the short term trend would turn bearish and in the downside it is likely to decline towards 200 initially.



Trading Strategy for Satyam

For intraday, the crucial level is 290. Trade long above this level and be short below this level.

Positional traders can initiate shorts if the scrip fails to sustain above 325 for a target of 200. Initiate longs if it sustains above 325 for a target of 390.




Bharti Airtel (spot)

The crucial level for the scrip in the short term is 780. The trend would remain bearish for this scrip if it sustains below 780 and in the down side, it could test 500 initially.

If the scrip sustains above 780, then the scrip is likely to turn bullish in the short term and in the upper side it could rally towards 850.


Trading Strategy for Bharti Airtel

For intraday, the crucial level is 720. Trade long above this level and be short below this level.

Positional traders can initiate longs if the level 780 is broken in the upside for a target of 850. Short if it fails to sustain above 780 for a target of 500.




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