Reliance
The level 1035 is crucial for short term. If it sustains above 1035, then it is likely to rally towards 1060.
Instead, if it fails to sustain above 1035 in coming trading sessions, then it is likely to turn weak and it could decline towards 950 initially.
Trading Strategy for Reliance
For intraday, the crucial level is 1035. Trade long above these levels and trade short below these levels.
Positional traders can initiate longs if it sustains above 1035 for a target of 1060. Initiate shorts if it fails to sustain above 1035 for a target of 950.
SBI
The crucial level for the short term for this scrip is 2195. If it fails to sustain above 2195, then it is likely to turn bearish and in the down side it could test 2050 in coming trading sessions.
Instead, if it sustains above 2195, then the short term trend would turn bullish and in the upper side it is likely to move towards 2240.
Trading Strategy for SBI
For Intraday, the crucial level is 2150. Trade long above this level and trade short below this level.
Positional traders can initiate shorts if it fails to sustain above 2195 for a target of 2050. And initiate longs if it sustains above 2195 for a target of 2240.
Axis Bank
The level 965 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 1020.
If it fails to sustain above 965, then the trend would turn bearish and in the downside it is likely to decline towards 880 initially.
Trading Strategy for Axis Bank
For intraday, the crucial level is 965. Trade long above this level and be short below this level.
Positional traders can initiate shorts if it fails to sustain above 965 for a target of 880. Initiate longs if it sustains above 965 for a target of 1020.
Icici Bank
The level 820 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 845.
Instead, if it fails to sustain above 820, the short term trend would turn bearish and in the downside it is likely to decline towards 750 initially.
Trading Strategy for Icici Bank
For intraday, the crucial level is 820 . Trade long above this level and be short below this level.
Positional traders can initiate shorts if the scrip fails to sustain above 820 for a target of 750. Initiate longs if it sustains above 820 for a target of 845.
Tata Steel
The crucial level for the scrip in the short term is 575. The trend would remain bearish for this scrip if it sustains below 575 and in the down side, it could test 500 initially.
If the scrip sustains above 575, 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 575. Trade long above this level and be short below this level.
Positional traders can initiate longs if the scrip sustains above 575 in the upside for a target of 590. Short if it fails to sustain above 575 for a target of 500.
