Technical Outlook, 05 February 2018

Nifty Technical Outlook, Positional & Intraday Trading Levels


Today, 10600 is the crucial intraday level for Nifty.

If Nifty sustains below 10600, then it could test 10500 and below that level it could test 10350.

Instead, if Nifty trades above 10600, then it could test 10720.

Short term Technical View of Nifty

For the short term, the level 11200 is crucial. If it sustains below this level, then it is likely to test 10500. Instead, if it trades above 11200, then it is likely to test 11500.

Medium term outlook of Nifty dated on 4 October 2017

The medium term outlook of Nifty would remain bullish if it sustains above 10000. Nifty is likely to move towards 12000.

Long term outlook of Nifty dated on 4 October 2017

The long term outlook of Nifty is looking bullish and this view holds good as long as Nifty sustains above 9000 and in the upper side it is likely to test 12000 in coming months.


Nifty Futures Technical Analysis - Intraday and Positional Levels

Today, 10630 is the crucial Intraday Level for Nifty Futures.

If Nifty Futures sustains below 10630, then it could test 10520 and below that level it could test 10370. 

Instead, if Nifty futures trades above 10630, then it could test 10740.

Nifty Futures intraday Trading Strategy

For intraday, the crucial level is 10630. Trade short below this level and trade long above this level.

Nifty Futures Positional Trading Strategy- 05 February 2018

Positional shorts can be initiated if it fails to sustain below 11150 for a target of 10500 with a stop at 11200 and trade long above 11150 for a target of 11500 with a stop at 11000.



Sensex - Technical Outlook and Trading Levels

Today, 34750 is the crucial intraday level for Sensex.

If Sensex sustains below 34750, then it could test 34150 and below that level it could test 33650.

Instead, if Sensex trades above 34750, then it could test 35000.

Short term Technical View of Sensex

The level 36700 is crucial for the short term. If it sustains above this level, then it could test 38000 .Instead, if it fails to trade above this level, then it could decline towards 34000 levels.

Medium term outlook of Sensex dated on 05 February 2018

The medium term outlook of Sensex would remain bullish if it sustains above 32000 and it is likely to test 38000 levels. 

Long term outlook of Sensex dated on 10 October 2015

The long term outlook of Sensex is looking bullish and it seems that Sensex is likely to rally towards 38000 levels in coming months. This view holds good as long as it sustains above 32000.

Technical View of Bank Nifty & CNX IT

Bank Nifty Intraday levels

Today, 26000 is crucial for Intraday.

If Bank Nifty sustains below 26000 then it could test 25200 and below that level it could test 25000.

Instead, if Bank Nifty trades above 26000 then it could test 26350.

Short term Technical View of Bank Nifty

The level 24800 is crucial for Bank Nifty in the short term. As long as it trades above that level, a rally towards 28000 level is likely. Instead, if it could not sustain above 24800, then it could test 23500.

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Cnx IT Intraday levels 

Today, 13050 is the crucial intraday level.

If Cnx IT sustains above 13050, then it could test 13200.
Instead, if Cnx IT trades below 13050 then it could test 12800 and below that level it could test 12600.

Short term Technical View of Cnx IT

The level 12800 is crucial for Cnx IT in the short term. If it fails to move above this level, then it is likely to see a short term correction towards 11800 level. Instead, if it trades above 12800, then it could test 14000.



Trading strategy - Reliance, Sbi, Axis Bank, Icici Bank, Tatasteel

Reliance

Today, 895 the crucial intraday level. Trade long above that level and trade short below that level in the intraday.

The level 895 is crucial for short term. Positional long trades can be initiated above 895 for a target of 905. Trade short below 895 for a target of 865.

SBI

Today, 290 is the crucial intraday level. Trade long above that level and trade short below that level in the intraday.

The level 290 is crucial for short term. Positional long trades can be initiated above 290 for a target of 300. Trade short below 290 for a target of 270.

Axis Bank

Today, 555 is the crucial intraday level. Trade long above that level and trade short below that level in the intraday.

The level 555 is crucial for short term. Positional long trades can be initiated above 555 for a target of 565. Trade short below 555 for a target of 530.

Icici Bank

Today, 335 is the crucial intraday level. Trade long above that level and trade short below that level in the intraday.

The level 335 is crucial for short term. Positional long trades can be initiated above 335 for a target of 345. Trade short below 335 for a target of 315.

Tata Steel

Today, 670 is the crucial intraday level. Trade long above that level and trade short below that level.

The level 670 is crucial for short term. Positional long trades can be initiated above 670 for a target of 690. Trade short below 670 for a target of 640.