Nifty Futures Technical Analysis - Intraday and Positional Trading calls, 23 May 2011

Today, 5530 is the crucial Intraday Level for Nifty Futures.

If Nifty Futures sustains below 5530, then it could test 5450 and below that level it could test 5400. 
Instead, if Nifty futures trades above 5530, then it could test 5620.

Nifty Futures intraday Trading Strategy

For intraday, the crucial level is 5530. 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 4700 with a stop at 5550 and trade long above 5550 for a target of 5950 with a stop at 5550.