Reliance
The level 1050 is crucial for short term. If it sustains above 1050, then it is likely to rally towards 1100.
Instead, if it fails to sustain above 1050 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 1050. Trade long above these levels and trade short below these levels.
Positional traders can initiate longs if it sustains above 1050 for a target of 1110. Initiate shorts if it fails to sustain above 1050 for a target of 1000.
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 990 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 990, 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 970. Trade long above this level and be short below this level.
Positional traders can initiate shorts if it fails to sustain above 990 for a target of 880. Initiate longs if it sustains above 990 for a target of 1020.
Icici Bank
The level 845 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 890.
Instead, if it fails to sustain above 845, 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 845 . Trade long above this level and be short below this level.
Positional traders can initiate shorts if the scrip fails to sustain above 845 for a target of 800. Initiate longs if it sustains above 845 for a target of 890.
Tata Steel
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 550 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 630.
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 630. Short if it fails to sustain above 590 for a target of 550.
