Nifty Futures Technical Analysis - Intraday and Positional Trading calls, 29 July 2011

Today, 5490 is the crucial Intraday Level for Nifty Futures.

If Nifty Futures sustains below 5490, then it could test 5440 and below that level it could test 5380. 
Instead, if Nifty futures trades above 5490, then it could test 5520.

Nifty Futures intraday Trading Strategy

For intraday, the crucial level is 5490. 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.