Trading Levels-Reliance, SBI, Icici Bank, Axis Bank, Tata Steel, 7 Jan

Reliance
The level 1050 is crucial for short term. If it sustains above 1050, then it is likely to rally towards 1110.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 2245. If it fails to sustain above 2245, then it is likely to turn bearish and in the down side it could test 2180 in coming trading sessions.


Instead, if it sustains above 2245, then the short term trend would turn bullish and in the upper side it is likely to move towards 2300.


Trading Strategy for SBI


For Intraday, the crucial level is 2245. Trade long above this level and trade short below this level.


Positional traders can initiate shorts if it fails to sustain above 2245 for a target of 2180. And initiate longs if it sustains above 2245 for a target of 2300.




Axis Bank


The level 1000 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 1040.


If it fails to sustain above 1000, then the trend would turn bearish and in the downside it is likely to decline towards 960 initially.


Trading Strategy for Axis Bank


For intraday, the crucial level is 1000. Trade long above this level and be short below this level.


Positional traders can initiate shorts if it fails to sustain above 1000 for a target of 960. Initiate longs if it sustains above 1000 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 920.


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 800 initially.


Trading Strategy for Icici Bank


For intraday, the crucial level is 890. 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 800. Initiate longs if it sustains above 890 for a target of 920.




Tata Steel


The crucial level for the scrip in the short term is 630. The trend would remain bearish for this scrip if it sustains below 630 and in the down side, it could test 600 initially.


If the scrip sustains above 630, then the scrip is likely to turn bullish in the short term and in the upper side it could rally towards 650.


Trading Strategy for Tata Steel


For intraday, the crucial level is 630. Trade long above this level and be short below this level.


Positional traders can initiate longs if the scrip sustains above 630 in the upside for a target of 650. Short if it fails to sustain above 630 for a target of 600.