Nifty (spot) 4826.00
Nifty Intraday trading levels and range
Today, if Nifty sustains below 4780, then it could test 4700.
Instead, if Nifty trades above 4780, then it could test 4820.
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 4780. 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 4920 for a target of 4500 with a stop at 4920 and trade long above 4920 for a target of 5200 with a stop at 4920.
Short term Technical View of Nifty
Nifty is likely to test 4500 initially in the downside, if it fails to move above 4920 in coming trading sessions. And if it trades above 4920, 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 2020 is crucial for short term. If it sustains above 2020, then it is likely to rally towards 2080.
Instead, if it fails to sustain above 2020 in coming trading sessions, then it is likely to turn weak and it could decline towards 1900 initially.
Trading Strategy for Reliance
For intraday, the crucial level is 2020. Trade long above these levels and trade short below these levels.
Positional traders can initiate longs if it sustains above 2020 for a target of 2080. Initiate shorts if it fails to sustain above 2020 for a target of 1900.
SBI (spot)
The crucial level for the short term for this scrip is 2240. If it fails to sustain above 2240, then it is likely to turn bearish and in the down side it could test 2100 in coming trading sessions.
Instead, if it sustains above 2240, then the short term trend would turn bullish and in the upper side it is likely to move towards 2300.
Trading Strategy for SBI
For Intraday, the crucial level is 2240. Trade long above this level and trade short below this level.
Positional traders can initiate shorts if it fails to sustain above 2240 for a target of 2100. And initiate longs if it sustains above 2240 for a target of 2300.
Rcom (spot)
The level 225 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 250.
If it fails to sustain above 225, then the trend would turn bearish and in the downside it is likely to decline towards 180 initially.
Trading Strategy for Rcom
For intraday, the crucial level is 215. Trade long above this level and be short below this level.
Positional traders can initiate shorts if it fails to sustain above 225 for a target of 180. Initiate longs if it sustains above 225 for a target of 250.
Icici Bank (spot)
The level 870 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 900.
Instead, if it fails to sustain above 870, the short term trend would turn bearish and in the downside it is likely to decline towards 800 initially.
Trading Strategy for Icici Bank
For intraday, the crucial level is 870 . Trade long above this level and be short below this level.
Positional traders can initiate shorts if the scrip fails to sustain above 870 for a target of 940. Initiate longs if it sustains above 870 for a target of 800.
Tata Steel (spot)
The crucial level for the scrip in the short term is 495. The trend would remain bearish for this scrip if it sustains below 495 and in the down side, it could test 450 initially.
If the scrip sustains above 495, then the scrip is likely to turn bullish in the short term and in the upper side it could rally towards 550.
Trading Strategy for Tata Steel
For intraday, the crucial level is 495. Trade long above this level and be short below this level.
Positional traders can initiate longs if the scrip sustains above 495 in the upside for a target of 550. Short if it fails to sustain above 495 for a target of 450.
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9381203517
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Nifty Intraday trading levels and range
Today, if Nifty sustains below 4780, then it could test 4700.
Instead, if Nifty trades above 4780, then it could test 4820.
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 4780. 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 4920 for a target of 4500 with a stop at 4920 and trade long above 4920 for a target of 5200 with a stop at 4920.
Short term Technical View of Nifty
Nifty is likely to test 4500 initially in the downside, if it fails to move above 4920 in coming trading sessions. And if it trades above 4920, 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 2020 is crucial for short term. If it sustains above 2020, then it is likely to rally towards 2080.
Instead, if it fails to sustain above 2020 in coming trading sessions, then it is likely to turn weak and it could decline towards 1900 initially.
Trading Strategy for Reliance
For intraday, the crucial level is 2020. Trade long above these levels and trade short below these levels.
Positional traders can initiate longs if it sustains above 2020 for a target of 2080. Initiate shorts if it fails to sustain above 2020 for a target of 1900.
SBI (spot)
The crucial level for the short term for this scrip is 2240. If it fails to sustain above 2240, then it is likely to turn bearish and in the down side it could test 2100 in coming trading sessions.
Instead, if it sustains above 2240, then the short term trend would turn bullish and in the upper side it is likely to move towards 2300.
Trading Strategy for SBI
For Intraday, the crucial level is 2240. Trade long above this level and trade short below this level.
Positional traders can initiate shorts if it fails to sustain above 2240 for a target of 2100. And initiate longs if it sustains above 2240 for a target of 2300.
Rcom (spot)
The level 225 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 250.
If it fails to sustain above 225, then the trend would turn bearish and in the downside it is likely to decline towards 180 initially.
Trading Strategy for Rcom
For intraday, the crucial level is 215. Trade long above this level and be short below this level.
Positional traders can initiate shorts if it fails to sustain above 225 for a target of 180. Initiate longs if it sustains above 225 for a target of 250.
Icici Bank (spot)
The level 870 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 900.
Instead, if it fails to sustain above 870, the short term trend would turn bearish and in the downside it is likely to decline towards 800 initially.
Trading Strategy for Icici Bank
For intraday, the crucial level is 870 . Trade long above this level and be short below this level.
Positional traders can initiate shorts if the scrip fails to sustain above 870 for a target of 940. Initiate longs if it sustains above 870 for a target of 800.
Tata Steel (spot)
The crucial level for the scrip in the short term is 495. The trend would remain bearish for this scrip if it sustains below 495 and in the down side, it could test 450 initially.
If the scrip sustains above 495, then the scrip is likely to turn bullish in the short term and in the upper side it could rally towards 550.
Trading Strategy for Tata Steel
For intraday, the crucial level is 495. Trade long above this level and be short below this level.
Positional traders can initiate longs if the scrip sustains above 495 in the upside for a target of 550. Short if it fails to sustain above 495 for a target of 450.
Visit us at:
www.sathiamoorthy.com
Contact:
9381203517
sathiamoorthyd@gmail.com
Yahoo Messenger Id - sathiamoorthyd@yahoo.com
Chennai
