Nifty (spot) 5114.45
Nifty Intraday trading levels and range
Today, if Nifty sustains below 5070, then it could test 5000 and below that level it could test 4920.
Instead, if Nifty trades above 5070, then it could test 5120.
Though Nifty is making new highs, it has already broken the trend line drawn from the low of March 2009 to 13 July 2009 in log scale and also for the past 15 trading sessions, it is drifting away from the trendline.
A sideways movement or a deep correction is possible in few trading sessions. If it is a deep correction, then, initially it could test 4600 in another 20 trading sessions.
Nifty intraday Trading Strategy
For intraday, the crucial level is 5070. 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 4950 for a target of 4500 with a stop at 4950 and trade long above 4950 for a target of 5200 with a stop at 4950.
Short term Technical View of Nifty
Nifty is likely to test 4500 initially in the downside, if it fails to move above 4950 in coming trading sessions. And if it trades above 4950, then it could test 5200 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 5200. 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 3 years.
Short term trading calls of Stocks for spot market
Reliance (spot)
The level 2150 is crucial for short term. If it sustains above 2150, then it is likely to rally towards 2230.
Instead, if it fails to sustain above 2150 in coming trading sessions, then it is likely to turn weak and it could decline towards 2050 initially.
Trading Strategy for Reliance
For intraday, the crucial level is 2150. Trade long above these levels and trade short below these levels.
Positional traders can initiate longs if it sustains above 2150 for a target of 2230. Initiate shorts if it fails to sustain above 2150 for a target of 2050.
SBI (spot)
The crucial level for the short term for this scrip is 2380. If it fails to sustain above 2380, then it is likely to turn bearish and in the down side it could test 2250 in coming trading sessions.
Instead, if it sustains above 2380, then the short term trend would turn bullish and in the upper side it is likely to move towards 2500.
Trading Strategy for SBI
For Intraday, the crucial level is 2380. Trade long above this level and trade short below this level.
Positional traders can initiate shorts if it fails to sustain above 2380 for a target of 2250. And initiate longs if it sustains above 2380 for a target of 2500.
Rcom (spot)
The level 245 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 245, 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 245. Trade long above this level and be short below this level.
Positional traders can initiate shorts if it fails to sustain above 245 for a target of 200. Initiate longs if it sustains above 245 for a target of 275.
Icici Bank (spot)
The level 940 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 970.
Instead, if it fails to sustain above 940, the short term trend would turn bearish and in the downside it is likely to decline towards 850 initially.
Trading Strategy for Icici Bank
For intraday, the crucial level is 940 . Trade long above this level and be short below this level.
Positional traders can initiate shorts if the scrip fails to sustain above 940 for a target of 970. Initiate longs if it sustains above 940 for a target of 850.
Tata Steel (spot)
The crucial level for the scrip in the short term is 540. The trend would remain bearish for this scrip if it sustains below 540 and in the down side, it could test 500 initially.
If the scrip sustains above 540, then the scrip is likely to turn bullish in the short term and in the upper side it could rally towards 590.
Trading Strategy for Tata Steel
For intraday, the crucial level is 590. Trade long above this level and be short below this level.
Positional traders can initiate longs if the scrip sustains above 540 in the upside for a target of 590. Short if it fails to sustain above 540 for a target of 500.
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Nifty Intraday trading levels and range
Today, if Nifty sustains below 5070, then it could test 5000 and below that level it could test 4920.
Instead, if Nifty trades above 5070, then it could test 5120.
Though Nifty is making new highs, it has already broken the trend line drawn from the low of March 2009 to 13 July 2009 in log scale and also for the past 15 trading sessions, it is drifting away from the trendline.
A sideways movement or a deep correction is possible in few trading sessions. If it is a deep correction, then, initially it could test 4600 in another 20 trading sessions.
Nifty intraday Trading Strategy
For intraday, the crucial level is 5070. 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 4950 for a target of 4500 with a stop at 4950 and trade long above 4950 for a target of 5200 with a stop at 4950.
Short term Technical View of Nifty
Nifty is likely to test 4500 initially in the downside, if it fails to move above 4950 in coming trading sessions. And if it trades above 4950, then it could test 5200 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 5200. 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 3 years.
Short term trading calls of Stocks for spot market
Reliance (spot)
The level 2150 is crucial for short term. If it sustains above 2150, then it is likely to rally towards 2230.
Instead, if it fails to sustain above 2150 in coming trading sessions, then it is likely to turn weak and it could decline towards 2050 initially.
Trading Strategy for Reliance
For intraday, the crucial level is 2150. Trade long above these levels and trade short below these levels.
Positional traders can initiate longs if it sustains above 2150 for a target of 2230. Initiate shorts if it fails to sustain above 2150 for a target of 2050.
SBI (spot)
The crucial level for the short term for this scrip is 2380. If it fails to sustain above 2380, then it is likely to turn bearish and in the down side it could test 2250 in coming trading sessions.
Instead, if it sustains above 2380, then the short term trend would turn bullish and in the upper side it is likely to move towards 2500.
Trading Strategy for SBI
For Intraday, the crucial level is 2380. Trade long above this level and trade short below this level.
Positional traders can initiate shorts if it fails to sustain above 2380 for a target of 2250. And initiate longs if it sustains above 2380 for a target of 2500.
Rcom (spot)
The level 245 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 245, 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 245. Trade long above this level and be short below this level.
Positional traders can initiate shorts if it fails to sustain above 245 for a target of 200. Initiate longs if it sustains above 245 for a target of 275.
Icici Bank (spot)
The level 940 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 970.
Instead, if it fails to sustain above 940, the short term trend would turn bearish and in the downside it is likely to decline towards 850 initially.
Trading Strategy for Icici Bank
For intraday, the crucial level is 940 . Trade long above this level and be short below this level.
Positional traders can initiate shorts if the scrip fails to sustain above 940 for a target of 970. Initiate longs if it sustains above 940 for a target of 850.
Tata Steel (spot)
The crucial level for the scrip in the short term is 540. The trend would remain bearish for this scrip if it sustains below 540 and in the down side, it could test 500 initially.
If the scrip sustains above 540, then the scrip is likely to turn bullish in the short term and in the upper side it could rally towards 590.
Trading Strategy for Tata Steel
For intraday, the crucial level is 590. Trade long above this level and be short below this level.
Positional traders can initiate longs if the scrip sustains above 540 in the upside for a target of 590. Short if it fails to sustain above 540 for a target of 500.
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