Nifty (spot) 4564.10
Nifty Intraday trading levels and range
Today, if Nifty sustains below 4555, then it could test 4490 and below that level, it could test 4450.
Instead, if Nifty trades above 4555, then it could test 4630.
Nifty intraday Trading Strategy
For intraday, the crucial level is 4555. 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 4600 for a target of 3900 with a stop at 4700 and trade long above 4600 for a target of 4700 with a stop at 4600.
Short term Technical View of Nifty
Nifty is likely to test 3900 initially in the downside, if it fails to move above 4600 in coming trading sessions. And if it trades above 4600, then it could test 4700 levels.
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 30 June 2009
The long term outlook of Nifty is looking bearish and it seems that Nifty is likely to bottom out in 1 year, if the bottom forms around 2000. If the level 2000 is not held, then Nifty is likely to take more than 2 years to bottom out.
Short term trading calls of Stocks for spot market
Reliance (spot)
The level 1890 is crucial for short term. If it sustains above 1890, then it is likely to rally towards 1990.
Instead, if it fails to sustain above 1890 in coming trading sessions, then it is likely to turn weak and it could decline towards 1800 initially.
Trading Strategy for Reliance
For intraday, the crucial level is 1890. Trade long above these levels and trade short below these levels.
Positional traders can initiate longs if it sustains above 1890 for a target of 1990. Initiate shorts if it fails to sustain above 1890 for a target of 1800.
SBI (spot)
The crucial level for the short term for this scrip is 1700. If it fails to sustain above 1725, then it is likely to turn bearish and in the down side it could test 1400 in coming trading sessions.
Instead, if it sustains above 1700, then the short term trend would turn bullish and in the upper side it is likely to move towards 1790.
Trading Strategy for SBI
For Intraday, the crucial level is 1700. Trade long above this level and trade short below this level.
Positional traders can initiate shorts if it fails to sustain above 1700 for a target of 1400. And initiate longs if it sustains above 1700 for a target of 1790.
Rcom (spot)
The level 280 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 300.
If it fails to sustain above 280, then the trend would turn bearish and in the downside it is likely to decline towards 200 initially.
Trading Strategy for Rcom
For intraday, the crucial level is 280. Trade long above this level and be short below this level.
Positional traders can initiate shorts if it fails to sustain above 280 for a target of 200. Initiate longs if it sustains above 280 for a target of 300.
Icici Bank (spot)
The level 750 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 750, the short term trend would turn bearish and in the downside it is likely to decline towards 700 initially.
Trading Strategy for Icici Bank
For intraday, the crucial level is 750 . Trade long above this level and be short below this level.
Positional traders can initiate shorts if the scrip fails to sustain above 750 for a target of 700. Initiate longs if it sustains above 750 for a target of 800.
Tata Steel (spot)
The crucial level for the scrip in the short term is 445. The trend would remain bearish for this scrip if it sustains below 445 and in the down side, it could test 400 initially.
If the scrip sustains above 445 then the scrip is likely to turn bullish in the short term and in the upper side it could rally towards 490.
Trading Strategy for Tata Steel
For intraday, the crucial level is 445. Trade long above this level and be short below this level.
Positional traders can initiate longs if the scrip sustains above 445 in the upside for a target of 490. Short if it fails to sustain above 445 for a target of 400.
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