Nifty (spot) 3593.45
Nifty Intraday trading levels and range
Today, if Nifty trades below 3630, then it could test 3550 and above this level, it could test 3500.
Instead, if it sustains below 3630, then it could test 3700.
Nifty intraday Trading Strategy
For intraday, the crucial level is 3630. 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 3630 for a target of 3300 with a stop at 3630 and trade long above 3630 for a target of 3750 with a stop at 3630.
Short term Technical View of Nifty
The rally from the low of 2545 seems to corrective and it is likely to top out around 3800 and in the downside it is likely to test 2900 initially in coming trading sessions.
Medium term outlook of Nifty dated on 13 May 2009
The medium term outlook of Nifty would remain bearish if it fails to sustain above 3800. 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 1920 is crucial for short term. If it sustains above 1920, then it is likely to rally towards 2000.
Instead, if it fails to sustain above 1920 in coming trading sessions, then it is likely to turn weak and it could decline towards 1820 initially.
Trading Strategy for Reliance
For intraday, the crucial level is 1920. Trade long above these levels and trade short below these levels.
Positional traders can initiate longs if it sustains above 1920 for a target of 2000. Initiate shorts if it fails to sustain above 1920 for a target of 1820.
SBI (spot)
The crucial level for the short term for this scrip is 1230. If it fails to sustain above 1230, then it is likely to turn bearish and in the down side it could test 1100 in coming trading sessions.
Instead, if it sustains above 1230, then the short term trend would turn bullish and in the upper side it is likely to move towards 1300.
Trading Strategy for SBI
For Intraday, the crucial level is 1230. Trade long above this level and trade short below this level.
Positional traders can initiate shorts if it fails to sustain above 1230 for a target of 1150. And initiate longs if it sustains above 1230 for a target of 1300.
Rcom (spot)
The level 235 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 260.
If it fails to sustain above 235, then the trend would turn bearish and in the downside it is likely to decline towards 190 initially.
Trading Strategy for Rcom
For intraday, the crucial level is 235. Trade long above this level and be short below this level.
Positional traders can initiate shorts if it fails to sustain above 235 for a target of 190. Initiate longs if it sustains above 235 for a target of 260.
Icici Bank (spot)
The level 545 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 600.
Instead, if it fails to sustain above 545, the short term trend would turn bearish and in the downside it is likely to decline towards 450 initially.
Trading Strategy for Icici Bank
For intraday, the crucial level is 545. Trade long above this level and be short below this level.
Positional traders can initiate shorts if the scrip fails to sustain above 545 for a target of 450. Initiate longs if it sustains above 545 for a target of 600.
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 720 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 820.
Trading Strategy for Bharti Airtel
For intraday, the crucial level is 780. Trade long above this level and be short below this level.
Positional traders can initiate longs if the scrip sustains above 780 in the upside for a target of 820. Short if it fails to sustain above 780 for a target of 720.
Visit us at:
www.sathiamoorthy.com
Contact:
9381203517
sathiamoorthyd@gmail.com
Yahoo Messenger Id - sathiamoorthyd@yahoo.com
Chennai
