Nifty Futures Technical Analysis - Intraday and Positional Trading calls, 24 May 2011

Today, 5400 is the crucial Intraday Level for Nifty Futures.

If Nifty Futures sustains below 5400, then it could test 5350 and below that level it could test 5270. 
Instead, if Nifty futures trades above 5400, then it could test 5470.

Nifty Futures intraday Trading Strategy

For intraday, the crucial level is 5400. 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.