Nifty (spot) 4530.70
Nifty Intraday trading levels and range
Today, if Nifty trades above 4615, then it could test 4650.
Instead, if it sustains below 4615, then it could test 4510.
Nifty intraday Trading Strategy
For intraday, the crucial level is 4615. 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 2250 is crucial for short term. If it sustains above 2250, then it is likely to rally towards 2350.
Instead, if it fails to sustain above 2250 in coming trading sessions, then it is likely to turn weak and it could decline towards 2150 initially.
Trading Strategy for Reliance
For intraday, the crucial level is 2250. Trade long above these levels and trade short below these levels.
Positional traders can initiate longs if it sustains above 2250 for a target of 2350. Initiate shorts if it fails to sustain above 2250 for a target of 2150.
SBI (spot)
The crucial level for the short term for this scrip is 1870. If it fails to sustain above 1870, then it is likely to turn bearish and in the down side it could test 1750 in coming trading sessions.
Instead, if it sustains above 1870, then the short term trend would turn bullish and in the upper side it is likely to move towards 2000.
Trading Strategy for SBI
For Intraday, the crucial level is 1870. Trade long above this level and trade short below this level.
Positional traders can initiate shorts if it fails to sustain above 1870 for a target of 1750. And initiate longs if it sustains above 1870 for a target of 2000.
Rcom (spot)
The level 335 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 355.
If it fails to sustain above 335, then the trend would turn bearish and in the downside it is likely to decline towards 290 initially.
Trading Strategy for Rcom
For intraday, the crucial level is 335. Trade long above this level and be short below this level.
Positional traders can initiate shorts if it fails to sustain above 335 for a target of 280. Initiate longs if it sustains above 335 for a target of 355.
Icici Bank (spot)
The level 765 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 800.
Instead, if it fails to sustain above 765, 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 765 . Trade long above this level and be short below this level.
Positional traders can initiate shorts if the scrip fails to sustain above 765 for a target of 650. Initiate longs if it sustains above 765 for a target of 800.
DLF (spot)
The crucial level for the scrip in the short term is 420. The trend would remain bearish for this scrip if it sustains below 420 and in the down side, it could test 350 initially.
If the scrip sustains above 420, then the scrip is likely to turn bullish in the short term and in the upper side it could rally towards 440.
Trading Strategy for DLF
For intraday, the crucial level is 420. Trade long above this level and be short below this level.
Positional traders can initiate longs if the scrip sustains above 420 in the upside for a target of 440. Short if it fails to sustain above 420 for a target of 350.
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