Nifty (spot) 5118.55
Nifty Intraday trading levels and range
Today, if Nifty sustains below 5120, then it could test 5080 and below that level, it could test 5010.
Instead, if Nifty trades above 5120, then it could test 5150 and that level, it could test 5200.
Nifty is likely to form a lower top below 5180. Instead, if it is broken, then it could move 5300-5350 levels.
Nifty intraday Trading Strategy
For intraday, the crucial level is 5120. 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 5010 for a target of 4500 with a stop at 5010 and trade long above 5010 for a target of 5110 with a stop at 5010.
Short term Technical View of Nifty
Nifty is likely to form a lower top below 5180. If the level, 5180 is broken, then it could move towards 5300-5350 region.
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 1090 is crucial for short term. If it sustains above 1090, then it is likely to rally towards 1150.
Instead, if it fails to sustain above 1090 in coming trading sessions, then it is likely to turn weak and it could decline towards 1000 initially.
Trading Strategy for Reliance
For intraday, the crucial level is 1090. Trade long above these levels and trade short below these levels.
Positional traders can initiate longs if it sustains above 1090 for a target of 1150. Initiate shorts if it fails to sustain above 1090 for a target of 1000.
SBI (spot)
The crucial level for the short term for this scrip is 2300. If it fails to sustain above 2300, then it is likely to turn bearish and in the down side it could test 2240 in coming trading sessions.
Instead, if it sustains above 2300, then the short term trend would turn bullish and in the upper side it is likely to move towards 2380.
Trading Strategy for SBI
For Intraday, the crucial level is 2300. Trade long above this level and trade short below this level.
Positional traders can initiate shorts if it fails to sustain above 2300 for a target of 2240. And initiate longs if it sustains above 2300 for a target of 2380.
Rcom (spot)
The level 185 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 195.
If it fails to sustain above 185, then the trend would turn bearish and in the downside it is likely to decline towards 130 initially.
Trading Strategy for Rcom
For intraday, the crucial level is 170. Trade long above this level and be short below this level.
Positional traders can initiate shorts if it fails to sustain above 185 for a target of 130. Initiate longs if it sustains above 185 for a target of 195.
Icici Bank (spot)
The level 905 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 930.
Instead, if it fails to sustain above 905, the short term trend would turn bearish and in the downside it is likely to decline towards 830 initially.
Trading Strategy for Icici Bank
For intraday, the crucial level is 905 . Trade long above this level and be short below this level.
Positional traders can initiate shorts if the scrip fails to sustain above 905 for a target of 830. Initiate longs if it sustains above 905 for a target of 930.
Tata Steel (spot)
The crucial level for the scrip in the short term is 590. The trend would remain bearish for this scrip if it sustains below 590 and in the down side, it could test 500 initially.
If the scrip sustains above 590, then the scrip is likely to turn bullish in the short term and in the upper side it could rally towards 620.
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 590 in the upside for a target of 620. Short if it fails to sustain above 590 for a target of 500.
