Click the charts to enlarge it.Nifty (spot) 4805.90
Nifty Intraday trading levels and range
Today, if Nifty sustains below 4820, then it could test 4750 and below that level it could test 4700.
Instead, if Nifty trades above 4820, then it could test 4850.
International Indices are likely to correct 20 to 25 percent from current levels and correction is likely to start in another 10 trading sessions.
Nifty intraday Trading Strategy
For intraday, the crucial level is 4820. 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 4720 for a target of 3900 with a stop at 4720 and trade long above 4720 for a target of 4900 with a stop at 4720.
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.
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 2100 is crucial for short term. If it sustains above 2100, then it is likely to rally towards 2150.
Instead, if it fails to sustain above 2100 in coming trading sessions, then it is likely to turn weak and it could decline towards 1950 initially.
Trading Strategy for Reliance
For intraday, the crucial level is 2100. Trade long above these levels and trade short below these levels.
Positional traders can initiate longs if it sustains above 2100 for a target of 2150. Initiate shorts if it fails to sustain above 2100 for a target of 1950.
SBI (spot)
The crucial level for the short term for this scrip is 1900. If it fails to sustain above 1900, 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 1900, then the short term trend would turn bullish and in the upper side it is likely to move towards 1950.
Trading Strategy for SBI
For Intraday, the crucial level is 1900. Trade long above this level and trade short below this level.
Positional traders can initiate shorts if it fails to sustain above 1900 for a target of 1750. And initiate longs if it sustains above 1900 for a target of 1950.
Rcom (spot)
The level 300 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 320.
If it fails to sustain above 300, 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 300. Trade long above this level and be short below this level.
Positional traders can initiate shorts if it fails to sustain above 300 for a target of 250. Initiate longs if it sustains above 300 for a target of 320.
Icici Bank (spot)
The level 755 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 755, 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 780 . Trade long above this level and be short below this level.
Positional traders can initiate shorts if the scrip fails to sustain above 755 for a target of 680. Initiate longs if it sustains above 755 for a target of 800.
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 420 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 465. 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 420.
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Nifty Intraday trading levels and range
Today, if Nifty sustains below 4820, then it could test 4750 and below that level it could test 4700.
Instead, if Nifty trades above 4820, then it could test 4850.
International Indices are likely to correct 20 to 25 percent from current levels and correction is likely to start in another 10 trading sessions.
Nifty intraday Trading Strategy
For intraday, the crucial level is 4820. 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 4720 for a target of 3900 with a stop at 4720 and trade long above 4720 for a target of 4900 with a stop at 4720.
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.
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 2100 is crucial for short term. If it sustains above 2100, then it is likely to rally towards 2150.
Instead, if it fails to sustain above 2100 in coming trading sessions, then it is likely to turn weak and it could decline towards 1950 initially.
Trading Strategy for Reliance
For intraday, the crucial level is 2100. Trade long above these levels and trade short below these levels.
Positional traders can initiate longs if it sustains above 2100 for a target of 2150. Initiate shorts if it fails to sustain above 2100 for a target of 1950.
SBI (spot)
The crucial level for the short term for this scrip is 1900. If it fails to sustain above 1900, 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 1900, then the short term trend would turn bullish and in the upper side it is likely to move towards 1950.
Trading Strategy for SBI
For Intraday, the crucial level is 1900. Trade long above this level and trade short below this level.
Positional traders can initiate shorts if it fails to sustain above 1900 for a target of 1750. And initiate longs if it sustains above 1900 for a target of 1950.
Rcom (spot)
The level 300 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 320.
If it fails to sustain above 300, 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 300. Trade long above this level and be short below this level.
Positional traders can initiate shorts if it fails to sustain above 300 for a target of 250. Initiate longs if it sustains above 300 for a target of 320.
Icici Bank (spot)
The level 755 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 755, 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 780 . Trade long above this level and be short below this level.
Positional traders can initiate shorts if the scrip fails to sustain above 755 for a target of 680. Initiate longs if it sustains above 755 for a target of 800.
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 420 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 465. 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 420.
Visit us at:
www.sathiamoorthy.com
Contact:
9381203517
sathiamoorthyd@gmail.com
Yahoo Messenger Id - sathiamoorthyd@yahoo.com
Chennai
