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Nifty (spot) 4276.05
Nifty Intraday trading levels and range
Today, if Nifty trades above 4235, then it could test 4300.
Instead, if it sustains below 4235, then it could test 4200 and below that level, it could test 4100.
Nifty intraday Trading Strategy
For intraday, the crucial level is 4235. 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 4650 for a target of 3600 with a stop at 4650 and trade long above 4650 for a target of 5000 with a stop at 4650.
Short term Technical View of Nifty
The rally from the low of 2545 seems to corrective and it is likely to top out around 4650. Initially it is likely to test 3600 in the downside.
Medium term outlook of Nifty dated on 20 May 2009
The medium term outlook of Nifty would remain bearish if it fails to sustain above 4650. 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 2200 is crucial for short term. If it sustains above 2200, then it is likely to rally towards 2250.
Instead, if it fails to sustain above 2200 in coming trading sessions, then it is likely to turn weak and it could decline towards 1900 initially.
Trading Strategy for Reliance
For intraday, the crucial level is 2200. Trade long above these levels and trade short below these levels.
Positional traders can initiate longs if it sustains above 2200 for a target of 2250. Initiate shorts if it fails to sustain above 2200 for a target of 1900.
SBI (spot)
The crucial level for the short term for this scrip is 1800. If it fails to sustain above 1800, then it is likely to turn bearish and in the down side it could test 1550 in coming trading sessions.
Instead, if it sustains above 1800, then the short term trend would turn bullish and in the upper side it is likely to move towards 1850.
Trading Strategy for SBI
For Intraday, the crucial level is 1800. Trade long above this level and trade short below this level.
Positional traders can initiate shorts if it fails to sustain above 1800 for a target of 1550. And initiate longs if it sustains above 1800 for a target of 1850.
Rcom (spot)
The level 310 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 340.
If it fails to sustain above 310, then the trend would turn bearish and in the downside it is likely to decline towards 250 initially.
Trading Strategy for Rcom
For intraday, the crucial level is 310. Trade long above this level and be short below this level.
Positional traders can initiate shorts if it fails to sustain above 310 for a target of 250. Initiate longs if it sustains above 310 for a target of 340.
Icici Bank (spot)
The level 720 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 780.
Instead, if it fails to sustain above 720, the short term trend would turn bearish and in the downside it is likely to decline towards 600 initially.
Trading Strategy for Icici Bank
For intraday, the crucial level is 720 . Trade long above this level and be short below this level.
Positional traders can initiate shorts if the scrip fails to sustain above 720 for a target of 600. Initiate longs if it sustains above 720 for a target of 780.
DLF (spot)
The crucial level for the scrip in the short term is 370. The trend would remain bearish for this scrip if it sustains below 370 and in the down side, it could test 300 initially.
If the scrip sustains above 370, then the scrip is likely to turn bullish in the short term and in the upper side it could rally towards 400.
Trading Strategy for DLF
For intraday, the crucial level is 370. Trade long above this level and be short below this level.
Positional traders can initiate longs if the scrip sustains above 370 in the upside for a target of 400. Short if it fails to sustain above 370 for a target of 300.
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9381203517
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Nifty (spot) 4276.05
Nifty Intraday trading levels and range
Today, if Nifty trades above 4235, then it could test 4300.
Instead, if it sustains below 4235, then it could test 4200 and below that level, it could test 4100.
Nifty intraday Trading Strategy
For intraday, the crucial level is 4235. 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 4650 for a target of 3600 with a stop at 4650 and trade long above 4650 for a target of 5000 with a stop at 4650.
Short term Technical View of Nifty
The rally from the low of 2545 seems to corrective and it is likely to top out around 4650. Initially it is likely to test 3600 in the downside.
Medium term outlook of Nifty dated on 20 May 2009
The medium term outlook of Nifty would remain bearish if it fails to sustain above 4650. 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 2200 is crucial for short term. If it sustains above 2200, then it is likely to rally towards 2250.
Instead, if it fails to sustain above 2200 in coming trading sessions, then it is likely to turn weak and it could decline towards 1900 initially.
Trading Strategy for Reliance
For intraday, the crucial level is 2200. Trade long above these levels and trade short below these levels.
Positional traders can initiate longs if it sustains above 2200 for a target of 2250. Initiate shorts if it fails to sustain above 2200 for a target of 1900.
SBI (spot)
The crucial level for the short term for this scrip is 1800. If it fails to sustain above 1800, then it is likely to turn bearish and in the down side it could test 1550 in coming trading sessions.
Instead, if it sustains above 1800, then the short term trend would turn bullish and in the upper side it is likely to move towards 1850.
Trading Strategy for SBI
For Intraday, the crucial level is 1800. Trade long above this level and trade short below this level.
Positional traders can initiate shorts if it fails to sustain above 1800 for a target of 1550. And initiate longs if it sustains above 1800 for a target of 1850.
Rcom (spot)
The level 310 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 340.
If it fails to sustain above 310, then the trend would turn bearish and in the downside it is likely to decline towards 250 initially.
Trading Strategy for Rcom
For intraday, the crucial level is 310. Trade long above this level and be short below this level.
Positional traders can initiate shorts if it fails to sustain above 310 for a target of 250. Initiate longs if it sustains above 310 for a target of 340.
Icici Bank (spot)
The level 720 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 780.
Instead, if it fails to sustain above 720, the short term trend would turn bearish and in the downside it is likely to decline towards 600 initially.
Trading Strategy for Icici Bank
For intraday, the crucial level is 720 . Trade long above this level and be short below this level.
Positional traders can initiate shorts if the scrip fails to sustain above 720 for a target of 600. Initiate longs if it sustains above 720 for a target of 780.
DLF (spot)
The crucial level for the scrip in the short term is 370. The trend would remain bearish for this scrip if it sustains below 370 and in the down side, it could test 300 initially.
If the scrip sustains above 370, then the scrip is likely to turn bullish in the short term and in the upper side it could rally towards 400.
Trading Strategy for DLF
For intraday, the crucial level is 370. Trade long above this level and be short below this level.
Positional traders can initiate longs if the scrip sustains above 370 in the upside for a target of 400. Short if it fails to sustain above 370 for a target of 300.
Visit us at:
www.sathiamoorthy.com
Contact:
9381203517
sathiamoorthyd@gmail.com
Yahoo Messenger Id - sathiamoorthyd@yahoo.com
Chennai
