Reliance
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 1075. 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
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 2200 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 2270. 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 2200. And initiate longs if it sustains above 2300 for a target of 2380.
Axis Bank
The level 980 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 980, then the trend would turn bearish and in the downside it is likely to decline towards 910 initially.
Trading Strategy for Axis Bank
For intraday, the crucial level is 980. Trade long above this level and be short below this level.
Positional traders can initiate shorts if it fails to sustain above 980 for a target of 910. Initiate longs if it sustains above 980 for a target of 1020.
Icici Bank
The level 890 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 890, 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 858 . Trade long above this level and be short below this level.
Positional traders can initiate shorts if the scrip fails to sustain above 890 for a target of 830. Initiate longs if it sustains above 890 for a target of 930.
Tata Steel
The crucial level for the scrip in the short term is 565. The trend would remain bearish for this scrip if it sustains below 565 and in the down side, it could test 500 initially.
If the scrip sustains above 565, 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 555. Trade long above this level and be short below this level.
Positional traders can initiate longs if the scrip sustains above 565 in the upside for a target of 590. Short if it fails to sustain above 565 for a target of 500.
