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Nifty (spot) 4399.90
Nifty Intraday trading levels and range
Today, if Nifty sustains below 4440, then it could test 4300 and below this level it could test 4270.
Instead, if Nifty trades above 4440, then it could test 4480.
If Nifty sustains below 4520 for another two trading sessions, then it is likely to decline towards 4300 in coming trading sessions.
Nifty is likely to test 4000 by this month end.
Nifty intraday Trading Strategy
For intraday, the crucial level is 4440. 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 4520 for a target of 3900 with a stop at 4520 and trade long above 4520 for a target of 4700 with a stop at 4500.
Short term Technical View of Nifty
Nifty is likely to test 3900 initially in the downside, if it fails to move above 4720 in coming trading sessions. And if it trades above 4720, then it could test 4850 levels.
Going by the price pattern, Nifty is likely to test 3800 level by middle of september.
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 4900. 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 1925 is crucial for short term. If it sustains above 1925, then it is likely to rally towards 2000.
Instead, if it fails to sustain above 1925 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 1925. Trade long above these levels and trade short below these levels.
Positional traders can initiate longs if it sustains above 1925 for a target of 2000. Initiate shorts if it fails to sustain above 1925 for a target of 1820.
SBI (spot)
The crucial level for the short term for this scrip is 1715. If it fails to sustain above 1715, then it is likely to turn bearish and in the down side it could test 1670 in coming trading sessions.
Instead, if it sustains above 1715, 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 1715. Trade long above this level and trade short below this level.
Positional traders can initiate shorts if it fails to sustain above 1715 for a target of 1670. And initiate longs if it sustains above 1715 for a target of 8000.
Rcom (spot)
The level 255 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 275.
If it fails to sustain above 255, 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 250. Trade long above this level and be short below this level.
Positional traders can initiate shorts if it fails to sustain above 255 for a target of 200. Initiate longs if it sustains above 255 for a target of 275.
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 760.
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 680 initially.
Trading Strategy for Icici Bank
For intraday, the crucial level is 715 . 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 680. Initiate longs if it sustains above 735 for a target of 780.
Tata Steel (spot)
The crucial level for the scrip in the short term is 465. The trend would remain bearish for this scrip if it sustains below 465 and in the down side, it could test 400 initially.
If the scrip sustains above 465 then the scrip is likely to turn bullish in the short term and in the upper side it could rally towards 485.
Trading Strategy for Tata Steel
For intraday, the crucial level is 455. Trade long above this level and be short below this level.
Positional traders can initiate longs if the scrip sustains above 465 in the upside for a target of 485. Short if it fails to sustain above 465 for a target of 400.
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www.sathiamoorthy.com
Contact:
9381203517
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Chennai
Nifty Intraday trading levels and range
Today, if Nifty sustains below 4440, then it could test 4300 and below this level it could test 4270.
Instead, if Nifty trades above 4440, then it could test 4480.
If Nifty sustains below 4520 for another two trading sessions, then it is likely to decline towards 4300 in coming trading sessions.
Nifty is likely to test 4000 by this month end.
Nifty intraday Trading Strategy
For intraday, the crucial level is 4440. 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 4520 for a target of 3900 with a stop at 4520 and trade long above 4520 for a target of 4700 with a stop at 4500.
Short term Technical View of Nifty
Nifty is likely to test 3900 initially in the downside, if it fails to move above 4720 in coming trading sessions. And if it trades above 4720, then it could test 4850 levels.
Going by the price pattern, Nifty is likely to test 3800 level by middle of september.
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 4900. 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 1925 is crucial for short term. If it sustains above 1925, then it is likely to rally towards 2000.
Instead, if it fails to sustain above 1925 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 1925. Trade long above these levels and trade short below these levels.
Positional traders can initiate longs if it sustains above 1925 for a target of 2000. Initiate shorts if it fails to sustain above 1925 for a target of 1820.
SBI (spot)
The crucial level for the short term for this scrip is 1715. If it fails to sustain above 1715, then it is likely to turn bearish and in the down side it could test 1670 in coming trading sessions.
Instead, if it sustains above 1715, 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 1715. Trade long above this level and trade short below this level.
Positional traders can initiate shorts if it fails to sustain above 1715 for a target of 1670. And initiate longs if it sustains above 1715 for a target of 8000.
Rcom (spot)
The level 255 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 275.
If it fails to sustain above 255, 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 250. Trade long above this level and be short below this level.
Positional traders can initiate shorts if it fails to sustain above 255 for a target of 200. Initiate longs if it sustains above 255 for a target of 275.
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 760.
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 680 initially.
Trading Strategy for Icici Bank
For intraday, the crucial level is 715 . 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 680. Initiate longs if it sustains above 735 for a target of 780.
Tata Steel (spot)
The crucial level for the scrip in the short term is 465. The trend would remain bearish for this scrip if it sustains below 465 and in the down side, it could test 400 initially.
If the scrip sustains above 465 then the scrip is likely to turn bullish in the short term and in the upper side it could rally towards 485.
Trading Strategy for Tata Steel
For intraday, the crucial level is 455. Trade long above this level and be short below this level.
Positional traders can initiate longs if the scrip sustains above 465 in the upside for a target of 485. Short if it fails to sustain above 465 for a target of 400.
Visit us at:
www.sathiamoorthy.com
Contact:
9381203517
sathiamoorthyd@gmail.com
Yahoo Messenger Id - sathiamoorthyd@yahoo.com
Chennai
