Nifty is likely to Top Out for the Medium Term, 30, July 2010

After Making a high of 6357.10 on January 2008, Nifty went into a medium term correction and it tested 2250 levels by October 2008. From that level Nifty has been in a medium term rally. The higher bottom formed on march 2009, the big gap that formed during the election results in May 2009, and Nifty never closed below 4730 for more than 3 days after september 2009 are some of the Technical Landmarks in this rally.


The technical landmark Gap that formed during may 2009 is offering a good clue about future direction of the market. Normally, the gaps act as the middle of any rally. Taking gap as the centre point, then we can derive an upper target of 5550. The corresponding target is given in the chart below as a fibonnoci projection.



The final part of any rally will always lack momentum. Same is the case in Nifty also. After the may 2009 gap, though Nifty has been trading in high range, it did not see any momentum in the upside. This shows we may be in the final leg of this rally.
 If my assumption is correct, then it should not close above 5550 and also it should correct towards 4730 in another 3 to 6 months. And also, the break of 4730 would foretell a big Bear market after that.


Instead, if Nifty breaks 5550, then it could move towards 5700, without changing the bearish picture. The more it moves above 5550, the more it is likely to fall drastically. 

Nifty Technical Outlook, Positional & Intraday Trading Levels, calls, and tips, 30 July 2010

Today, 5410 is the crucial intraday level for Nifty.

If Nifty sustains below 5410, then it could test 5360 and below that level it could test 5320.
Instead, if Nifty trades above 5410, then it could test 5460 and above that level it could test 5530.

Short term Technical View of Nifty

For the short term, the level 5550 is crucial. If it sustains below this level, then it is likely to test 5100. Instead, if it trades above 5550, then it is likely to test 5650. 

Medium term outlook of Nifty dated on 30 July 2010

The medium term outlook of Nifty would remain bearish if it fails to sustain above 5550. Nifty is likely to see a medium correction from 5550 and it is likely to be in correction mode for another 1 year.

Long term outlook of Nifty dated on 30 July 2010

The long term outlook of Nifty is looking bearish and the present bull market from the low of 2003 is likely to terminate in 2010 around 5550 and it is likely to followed by 2 to 3 years bear market.

Reality, Power, and Infrastructure sector is likely to underperform the overall market. FMCG, Pharma, and Banking sectors are likely to perform better in coming years.

Nifty Futures Technical Analysis - Intraday and Positional Trading calls, 30 July 2010

Today, 5410 is the crucial Intraday Level for Nifty Futures.

If Nifty Futures sustains below 5410, then it could test 5360 and below that level it could test 5320. 
Instead, if Nifty futures trades above 5410, then it could test 5460 and above that level it could test 5530.

Nifty Futures intraday Trading Strategy

For intraday, the crucial level is 5410. 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 5550 for a target of 5100 with a stop at 5550 and trade long above 5550 for a target of 5650 with a stop at 5500.

Sensex- Technical Outlook and Trading Levels, 30 July 2010

Today, 18000 is the crucial intraday level for Sensex.

If Sensex sustains below 18000,  then it could test 17850 and below that level it could test 17790.
Instead, if Sensex trades above 18000, then it could test 18150 and above 18150 it could test 18300.

Short term Technical View of Sensex

The level 18250 is crucial for the short term. If it sustains above this level, then it could test 18400. Instead, if it fails to trade above this level, then it could decline towards 16500 levels.

Medium term outlook of Sensex dated on 14 December 2009

The medium term outlook of Sensex would remain bearish if it fails to sustain above 18000. Sensex is likely to bottom out in the medium term at 7000 levels in coming months.

Long term outlook of Sensex dated on 14 December 2009

The long term outlook of Sensex is looking bearish and it seems that Sensex is likely to bottom out in 3 years.

Technical View and Trading calls of Cnx IT & Bank Nifty, 30 July 2010

Bank Nifty Intraday levels and trading tips

Today, 10150 is crucial for Intraday.

If Bank Nifty sustains below 10150, then it could test 10000, and below that level it could test 9900.
Instead, if Bank Nifty trades above 10150, then it could test 10300.

Short term Technical View of Bank Nifty

The level 8825 is crucial for Bank Nifty in the short term. As long as it trades below that level, a decline to 8000 level is likely. Instead, if it trades above 8825, then it could test 10150.

Cnx IT Intraday levels and and trading tips

Today, 6140 is the crucial intraday level.

If Cnx IT sustains above 6140, then it could test 6200 and above that level it could test 6230. 
Instead, if Cnx IT trades below 6140, then it could test 6070 and below that level it could test 6030.

Short term Technical View of Cnx IT

The level 5900 is crucial for Cnx IT is the short term. If it fails to move above this level, then it is likely to see a short term correction towards 5300 level. Instead, if it trades above 5900, then it could test 6020.

Trading strategy and intraday tips -Reliance, Sbi, Axis Bank, Icici Bank, Tatasteel- 30 July 2010

Reliance

Today, 1030 is the crucial intraday level. Trade long above that level and trade short below that level.

The level 1030 is crucial for short term. Positional Traders, trade long above 1030, for a target of 1055. Trade short below 1030 for a target of 970.

SBI

Today, 2480 is the crucial intraday level. Trade long above that level and trade short below that level.

The level 2480 is crucial for short term. Positional Traders, trade long above 2480, for a target of 2520. Trade short below 2480 for a target of 2390.

Axis Bank

Today, 1370 is the crucial intraday level. Trade long above that level and trade short below that level.

The level 1370 is crucial for short term. Positional Traders, trade long above 1370, for a target of 1420. Trade short below 1370 for a target of 1290.

Icici Bank

Today, 940 is the crucial intraday level. Trade long above that level and trade short below that level.

The level 940 is crucial for short term. Positional Traders, trade long above 940, for a target of 970. Trade short below 940 for a target of 910.

Tata Steel

Today, 520 is the crucial intraday level. Trade long above that level and trade short below that level.

The level 520 is crucial for short term. Positional Traders, trade long above 520, for a target of 555. Trade short below 520 for a target of 490.

Nifty Technical Outlook, Positional & Intraday Trading Levels, calls, and tips, 29 July 2010

Today, 5410 is the crucial intraday level for Nifty.

If Nifty sustains below 5410, then it could test 5360 and below that level it could test 5320.
Instead, if Nifty trades above 5410, then it could test 5460 and above that level it could test 5530.

Short term Technical View of Nifty

For the short term, the level 4950 is crucial. If it sustains below this level, then it is likely to test 4730. Instead, if it trades above 4950, then it is likely to test 5550. 

Medium term outlook of Nifty dated on 20 May 2009

The medium term outlook of Nifty would remain bearish if it fails to sustain above 5550. Nifty is likely to bottom out in the medium term at 2000-2200 levels in coming months and if it fails to sustain above this level, then it is likely to decline below 2000 levels.

Long term outlook of Nifty dated on 30 June 2009

The long term outlook of Nifty is looking bearish and it seems that Nifty is likely to bottom out in 3 years.

Nifty Futures Technical Analysis - Intraday and Positional Trading calls, 29 July 2010

Today, 5410 is the crucial Intraday Level for Nifty Futures.

If Nifty Futures sustains below 5410, then it could test 5360 and below that level it could test 5320. 
Instead, if Nifty futures trades above 5410, then it could test 5460 and above that level it could test 5530.

Nifty Futures intraday Trading Strategy

For intraday, the crucial level is 5410. 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 5300 for a target of 4950 with a stop at 4950 and trade long above 5300 for a target of 5550 with a stop at 5300.

Sensex- Technical Outlook and Trading Levels, 29 July 2010

Today, 18000 is the crucial intraday level for Sensex.

If Sensex sustains below 18000,  then it could test 17850 and below that level it could test 17790.
Instead, if Sensex trades above 18000, then it could test 18150 and above 18150 it could test 18300.

Short term Technical View of Sensex

The level 17300 is crucial for the short term. If it sustains above this level, then it could test 18000. Instead, if it fails to trade above this level, then it could decline towards 16500 levels.

Medium term outlook of Sensex dated on 14 December 2009

The medium term outlook of Sensex would remain bearish if it fails to sustain above 18000. Sensex is likely to bottom out in the medium term at 7000 levels in coming months.

Long term outlook of Sensex dated on 14 December 2009

The long term outlook of Sensex is looking bearish and it seems that Sensex is likely to bottom out in 3 years.

Technical View and Trading calls of Cnx IT & Bank Nifty, 29 July 2010

Bank Nifty Intraday levels and trading tips

Today, 10000 is crucial for Intraday.

If Bank Nifty sustains below 10000, then it could test 9900, and below that level it could test 9750.
Instead, if Bank Nifty trades above 10000, then it could test 10150.

Short term Technical View of Bank Nifty

The level 8825 is crucial for Bank Nifty in the short term. As long as it trades below that level, a decline to 8000 level is likely. Instead, if it trades above 8825, then it could test 10150.

Cnx IT Intraday levels and and trading tips

Today, 6140 is the crucial intraday level.

If Cnx IT sustains above 6140, then it could test 6200 and above that level it could test 6230. 
Instead, if Cnx IT trades below 6140, then it could test 6070 and below that level it could test 6030.

Short term Technical View of Cnx IT

The level 5900 is crucial for Cnx IT is the short term. If it fails to move above this level, then it is likely to see a short term correction towards 5300 level. Instead, if it trades above 5900, then it could test 6020.

Trading strategy and intraday tips -Reliance, Sbi, Axis Bank, Icici Bank, Tatasteel- 29 July 2010

Reliance

Today, 1050 is the crucial intraday level. Trade long above that level and trade short below that level.

The level 1050 is crucial for short term. Positional Traders, trade long above 1050, for a target of 1100. Trade short below 1050 for a target of 1000.

SBI

Today, 2390 is the crucial intraday level. Trade long above that level and trade short below that level.

The level 2390 is crucial for short term. Positional Traders, trade long above 2390, for a target of 2460. Trade short below 2390 for a target of 2320.

Axis Bank

Today, 1370 is the crucial intraday level. Trade long above that level and trade short below that level.

The level 1370 is crucial for short term. Positional Traders, trade long above 1370, for a target of 1420. Trade short below 1370 for a target of 1290.

Icici Bank

Today, 910 is the crucial intraday level. Trade long above that level and trade short below that level.

The level 910 is crucial for short term. Positional Traders, trade long above 910, for a target of 930. Trade short below 910 for a target of 875.

Tata Steel

Today, 520 is the crucial intraday level. Trade long above that level and trade short below that level.

The level 520 is crucial for short term. Positional Traders, trade long above 520, for a target of 555. Trade short below 520 for a target of 490.

Nifty Technical Outlook, Positional & Intraday Trading Levels, calls, and tips, 28 July 2010

Today, 5410 is the crucial intraday level for Nifty.

If Nifty sustains below 5410, then it could test 5360 and below that level it could test 5320.
Instead, if Nifty trades above 5410, then it could test 5460 and above that level it could test 5530.

Short term Technical View of Nifty

For the short term, the level 4950 is crucial. If it sustains below this level, then it is likely to test 4730. Instead, if it trades above 4950, then it is likely to test 5550. 

Nifty Futures Technical Analysis - Intraday and Positional Trading calls, 28 July 2010

Today, 5410 is the crucial Intraday Level for Nifty Futures.

If Nifty Futures sustains below 5410, then it could test 5360 and below that level it could test 5320. 
Instead, if Nifty futures trades above 5410, then it could test 5460 and above that level it could test 5530.

Sensex- Technical Outlook and Trading Levels, 28 July 2010

Today, 18000 is the crucial intraday level for Sensex.

If Sensex sustains below 18000,  then it could test 17950 and below that level it could test 17850.
Instead, if Sensex trades above 18000, then it could test 18150 and above 18150 it could test 18300.

Technical View and Trading calls of Cnx IT & Bank Nifty, 28 July 2010

Bank Nifty Intraday levels and trading tips

Today, 10040 is crucial for Intraday.

If Bank Nifty sustains below 10040, then it could test 9970, and below that level it could test 9900.
Instead, if Bank Nifty trades above 10040, then it could test 10150.

Trading strategy and intraday tips -Reliance, Sbi, Axis Bank, Icici Bank, Tatasteel- 28 July 2010

Reliance

Today, 1050 is the crucial intraday level. Trade long above that level and trade short below that level.

The level 1050 is crucial for short term. Positional Traders, trade long above 1050, for a target of 1100. Trade short below 1050 for a target of 1000.

Nifty Technical Outlook, Positional and Intraday Trading Levels, 27 July 2010

Today, 5410 is the crucial intraday level for Nifty.

If Nifty sustains below 5410, then it could test 5360 and below that level it could test 5320.
Instead, if Nifty trades above 5410, then it could test 5460 and above that level it could test 5530.

Short term Technical View of Nifty

For the short term, the level 4950 is crucial. If it sustains below this level, then it is likely to test 4730. Instead, if it trades above 4950, then it is likely to test 5550. 

Nifty Futures Technical Analysis - Intraday and Positional Trading calls, 27 July 2010

Today, 5410 is the crucial Intraday Level for Nifty Futures.

If Nifty Futures sustains below 5410, then it could test 5360 and below that level it could test 5320. 
Instead, if Nifty futures trades above 5410, then it could test 5460 and above that level it could test 5530.

Sensex- Technical Outlook and Trading Levels, 27 July 2010

Today, 18000 is the crucial intraday level for Sensex.

If Sensex sustains below 18000,  then it could test 17950 and below that level it could test 17850.
Instead, if Sensex trades above 18000, then it could test 18150 and above 18150 it could test 18300.

Technical View and Trading calls of Cnx IT & Bank Nifty, 27 July 2010

Bank Nifty Intraday levels and trading tips

Today, 10040 is crucial for Intraday.

If Bank Nifty sustains below 10040, then it could test 9970, and below that level it could test 9900.
Instead, if Bank Nifty trades above 10040, then it could test 10150.

Trading strategy and intraday tips -Reliance, Sbi, Axis Bank, Icici Bank, Tatasteel- 27 July 2010

Reliance

Today, 1050 is the crucial intraday level. Trade long above that level and trade short below that level.

The level 1050 is crucial for short term. Positional Traders, trade long above 1050, for a target of 1100. Trade short below 1050 for a target of 1000.

Nifty Technical Outlook, Positional and Intraday Trading Levels, 26 July 2010

Today, 5460 is the crucial intraday level for Nifty.

If Nifty sustains below 5460, then it could test 5410 and below that level it could test 5360.
Instead, if Nifty trades above 5460, then it could test 5490 and above that level it could test 5530.

Short term Technical View of Nifty

For the short term, the level 4950 is crucial. If it sustains below this level, then it is likely to test 4730. Instead, if it trades above 4950, then it is likely to test 5550. 

Nifty Futures Technical Analysis - Intraday and Positional Trading calls, 26 July 2010

Today, 5460 is the crucial Intraday Level for Nifty Futures.

If Nifty Futures sustains below 5460, then it could test 5410 and below that level it could test 5360. 
Instead, if Nifty futures trades above 5460, then it could test 5490 and above that level it could test 5530.

Sensex- Technical Outlook and Trading Levels, 26 July 2010

Today, 18010 is the crucial intraday level for Sensex.

If Sensex sustains below 18010,  then it could test 17950 and below that level it could test 17850.
Instead, if Sensex trades above 18010, then it could test 18150 and above 18150 it could test 18300.

Technical View and Trading calls of Cnx IT & Bank Nifty, 26 July 2010

Bank Nifty Intraday levels and range 

Today, 10040 is crucial for Intraday.

If Bank Nifty sustains below 10040, then it could test 9970, and below that level it could test 9900.
Instead, if Bank Nifty trades above 10040, then it could test 10150.

Trading strategy and Trading tips -Reliance, Sbi, Axis Bank, Icici Bank, Tatasteel- 26 July 2010

Reliance

Today, 1050 is the crucial intraday level. Trade long above that level and trade short below that level.

The level 1050 is crucial for short term. Positional Traders, trade long above 1050, for a target of 1100. Trade short below 1050 for a target of 1000.

Nifty - Technical Outlook and Intraday Trading Levels, 23 July 2010

Today, 5410 is the crucial intraday level for Nifty.

If Nifty sustains below 5410, then it could test 5360 and below that level it could test 5300.
Instead, if Nifty trades above 5410, then it could test 5430 and above that level it could test 5465.

Short term Technical View of Nifty

For the short term, the level 4950 is crucial. If it sustains below this level, then it is likely to test 4730. Instead, if it trades above 4950, then it is likely to test 5550.