D Sathia Moorthy
March 25, 2009
Nifty (spot) 2938.70
Nifty Intraday trading levels and range
Today, if Nifty trades below 2960 then it could test 2900 and below this level it could test 2850.
Instead, if it sustains above 2960, then it could test 3000.
Nifty intraday Trading Strategy
For intraday, the crucial level is 2960. Trade short below this level and trade long above this level.
Nifty Positional Trading Strategy
Positional traders can initiate shorts if it fails to sustain above 2960 for a target of 2500 with a stop at 2960 and trade long above 3000 for a target of 3050 with a stop at 2960.
Short term Technical View of Nifty
The short term trend is looking weak and it is likely to test 2500 initially and then it could decline towards 2000 and this view holds good as long as Nifty stays below 3050.
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 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 1200 initially.
Trading Strategy for Reliance
For intraday, the crucial level is 1465. 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 1500 for a target of 1200 initially.
SBI (spot)
The crucial level for the short term for this scrip is 1060. If it fails to sustain above 1060, then it is likely to turn bearish and in the down side it could test 850 in coming trading sessions.
Instead, if it sustains above 1060, then the short term trend would turn bullish and in the upper side it is likely to move towards 1100.
Trading Strategy for SBI
For Intraday, the crucial level is 1050. Trade long above this level and trade short below this level.
Positional traders can initiate shorts if it fails to sustain above 1060 for a target of 850. And initiate longs if it sustains above 1060 for a target of 1100.
Infosys (spot)
The level 1330 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 1360.
If it fails to sustain above 1330, then the trend would turn bearish and in the downside it is likely to decline towards 1100 initially.
Trading Strategy for Infosys
For intraday, the crucial level is 1300. Trade long above this level and be short below this level.
Positional traders can initiate shorts if it fails to sustain above 1330 for a target of 1000. Initiate longs if it sustains above 1330 for a target of 1360.
Icici Bank (spot)
The level 365 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 365, the short term trend would turn bearish and in the downside it is likely to decline towards 250 initially.
Trading Strategy for Icici Bank
For intraday, the crucial level is 365. Trade long above this level and be short below this level.
Positional traders can initiate shorts if the scrip fails to sustain above 365 for a target of 250. Initiate longs if it sustains above 365 for a target of 390.
Maruti (spot)
The crucial level for the scrip in the short term is 750. The trend would remain bearish for this scrip if it sustains below 750 and in the down side, it could test 650 initially.
If the scrip sustains above 750, then the scrip is likely to turn bullish in the short term and in the upper side it could rally towards 780.
Trading Strategy for Maruti
For intraday, the crucial level is 725. Trade long above this level and be short below this level.
Positional traders can initiate longs if the level 750 is broken in the upside for a target of 780. Short if it fails to sustain above 750 for a target of 650.
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