Tuesday, December 22, 2009

Technical Outlook - Nifty Intraday levels and range for 22 December

Nifty Futures 4938.60
Nifty Futures Intraday levels and range




Today, if Nifty sustains below 4975, then it could test 4915 and below that level it could test 4870.


Instead, if Nifty trades above 4975, then it could test 5015.






Nifty Futures intraday Trading Strategy


For intraday, the crucial level is 4975. Trade short below this level and trade long above this level.


Nifty Futures Positional Trading Strategy


Positional traders can initiate shorts if it fails to sustain above 5080 for a target of 4500 with a stop at 5080 and trade long above 5080 for a target of 5180 with a stop at 5080.