Nifty (spot) 4251.40
Nifty Intraday trading levels and range
Today, if it sustains below 4275, then it could test 4200 and below this level, it could test 4100.
Instead, if Nifty trades above 4275, then it could test 4350.
Nifty intraday Trading Strategy
For intraday, the crucial level is 4275. 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
Nifty is likely to test 4000 initially in the downside, if it fails to move above 4350 in coming trading sessions.
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 2070 is crucial for short term. If it sustains above 2070, then it is likely to rally towards 2120.
Instead, if it fails to sustain above 2070 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 2070. Trade long above these levels and trade short below these levels.
Positional traders can initiate longs if it sustains above 2070 for a target of 2120. Initiate shorts if it fails to sustain above 2070 for a target of 1900.
SBI (spot)
The crucial level for the short term for this scrip is 1750. If it fails to sustain above 1750, then it is likely to turn bearish and in the down side it could test 1500 in coming trading sessions.
Instead, if it sustains above 1750, then the short term trend would turn bullish and in the upper side it is likely to move towards 1800.
Trading Strategy for SBI
For Intraday, the crucial level is 1750. Trade long above this level and trade short below this level.
Positional traders can initiate shorts if it fails to sustain above 1750 for a target of 1500. And initiate longs if it sustains above 1750 for a target of 1800.
Rcom (spot)
The level 315 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 350.
If it fails to sustain above 315, 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 315. Trade long above this level and be short below this level.
Positional traders can initiate shorts if it fails to sustain above 315 for a target of 250. Initiate longs if it sustains above 315 for a target of 350.
Icici Bank (spot)
The level 735 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 755.
Instead, if it fails to sustain above 735, the short term trend would turn bearish and in the downside it is likely to decline towards 650 initially.
Trading Strategy for Icici Bank
For intraday, the crucial level is 735 . Trade long above this level and be short below this level.
Positional traders can initiate shorts if the scrip fails to sustain above 735 for a target of 650. Initiate longs if it sustains above 735 for a target of 775.
DLF (spot)
The crucial level for the scrip in the short term is 340. The trend would remain bearish for this scrip if it sustains below 340 and in the down side, it could test 280 initially.
If the scrip sustains above 340, then the scrip is likely to turn bullish in the short term and in the upper side it could rally towards 365.
Trading Strategy for DLF
For intraday, the crucial level is 340. Trade long above this level and be short below this level.
Positional traders can initiate longs if the scrip sustains above 340 in the upside for a target of 365. Short if it fails to sustain above 340 for a target of 280.
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Nifty Intraday trading levels and range
Today, if it sustains below 4275, then it could test 4200 and below this level, it could test 4100.
Instead, if Nifty trades above 4275, then it could test 4350.
Nifty intraday Trading Strategy
For intraday, the crucial level is 4275. 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
Nifty is likely to test 4000 initially in the downside, if it fails to move above 4350 in coming trading sessions.
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 2070 is crucial for short term. If it sustains above 2070, then it is likely to rally towards 2120.
Instead, if it fails to sustain above 2070 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 2070. Trade long above these levels and trade short below these levels.
Positional traders can initiate longs if it sustains above 2070 for a target of 2120. Initiate shorts if it fails to sustain above 2070 for a target of 1900.
SBI (spot)
The crucial level for the short term for this scrip is 1750. If it fails to sustain above 1750, then it is likely to turn bearish and in the down side it could test 1500 in coming trading sessions.
Instead, if it sustains above 1750, then the short term trend would turn bullish and in the upper side it is likely to move towards 1800.
Trading Strategy for SBI
For Intraday, the crucial level is 1750. Trade long above this level and trade short below this level.
Positional traders can initiate shorts if it fails to sustain above 1750 for a target of 1500. And initiate longs if it sustains above 1750 for a target of 1800.
Rcom (spot)
The level 315 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 350.
If it fails to sustain above 315, 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 315. Trade long above this level and be short below this level.
Positional traders can initiate shorts if it fails to sustain above 315 for a target of 250. Initiate longs if it sustains above 315 for a target of 350.
Icici Bank (spot)
The level 735 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 755.
Instead, if it fails to sustain above 735, the short term trend would turn bearish and in the downside it is likely to decline towards 650 initially.
Trading Strategy for Icici Bank
For intraday, the crucial level is 735 . Trade long above this level and be short below this level.
Positional traders can initiate shorts if the scrip fails to sustain above 735 for a target of 650. Initiate longs if it sustains above 735 for a target of 775.
DLF (spot)
The crucial level for the scrip in the short term is 340. The trend would remain bearish for this scrip if it sustains below 340 and in the down side, it could test 280 initially.
If the scrip sustains above 340, then the scrip is likely to turn bullish in the short term and in the upper side it could rally towards 365.
Trading Strategy for DLF
For intraday, the crucial level is 340. Trade long above this level and be short below this level.
Positional traders can initiate longs if the scrip sustains above 340 in the upside for a target of 365. Short if it fails to sustain above 340 for a target of 280.
Visit us at:
www.sathiamoorthy.com
Contact:
9381203517
sathiamoorthyd@gmail.com
Yahoo Messenger Id - sathiamoorthyd@yahoo.com
Chennai
