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

Today, 4970 is the crucial Intraday Level for Nifty Futures.

If Nifty Futures sustains below 4970, then it could test 4910 and below that level it could test 4850. 
Instead, if Nifty futures trades above 4970, then it could test 5010.

Nifty Futures intraday Trading Strategy

For intraday, the crucial level is 4970. 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.