Nifty Futures Technical Analysis - Intraday and Positional Trading calls, 1 August 2011

Today, 5550 is the crucial Intraday Level for Nifty Futures.

If Nifty Futures sustains below 5550, then it could test 5500 and below that level it could test 5450. 
Instead, if Nifty futures trades above 5550, then it could test 5610.

Nifty Futures intraday Trading Strategy

For intraday, the crucial level is 5550. 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.