TECHNICAL OUTLOOK, 27 OCTOBER

Nifty (spot) 2584.00



Nifty Intraday trading levels

Today, if Nifty trades below 2585, then it could test 2450 and below 2450, it could test 2350. Instead, if it sustains above 2585, then it could test 2700.

Nifty Trading Strategy for intraday and positional trading

For intraday, the crucial level is 2585. Trade short below this level and trade long above this level till 2700.

Positional traders can initiate shorts if it fails to sustain above 2585 for a target of 2350 and trade long above 2585 for a target of 2700.



Short term Technical View of Nifty


The level 2750 is crucial in the short term. If it fails to sustain above 2750, then a decline to 2200 levels is likely.

Instead, if Nifty moves above 2750, then it is likely to rally to 3050.


Medium term outlook of Nifty dated on 14 October 2008

The medium term outlook of Nifty would remain bearish if it fails to sustain above 3100. Nifty is likely to bottom out in the medium term at 2000-2200 levels in coming months and if it fails to sustain above this level, then it is likely to decline below 2000 levels.





Long term outlook of Nifty dated on 13 October 2008

The long term outlook of Nifty is looking bearish and it seems that Nifty is likely to bottom out in 6 months to 1 year if the bottom forms around 2000. If the level 2000 is not held, then Nifty is likely to take more than 1 year to bottom out.





Short term trading calls of Stocks for spot market



Reliance (spot)

The level 1200 is crucial for this scrip for the short term. If it sustains above 1200, then it is likely to rally towards 1300.

Instead, if it fails to sustain above 1200 in coming trading sessions, then it is likely to turn weak and it could decline towards 800 initially.

Trading Strategy for Reliance

For intraday, the crucial level is 1040. Trade long above these levels and trade short below these levels.

Positional traders can initiate longs if it moves above 1200 for a target of 1300. Initiate shorts if it fails to sustain above 1200 for a target of 800 initially.



SBI (spot)

The crucial level for the short term for this scrip is 1250. If it fails to sustain above 1250, then it is likely to turn bearish and in the down side it could test 800 in coming trading session.

Instead, if it sustains above 1250, then the short term trend would turn bullish and in the upper side it is likely to move towards 1380.

Trading Strategy for SBI

For Intraday, the crucial level is 1150. Trade long above this level and trade short below this level.

Positional traders can initiate shorts if it fails to sustain above 125 for a target of 900. And initiate longs if it sustains above 1250 for a target of 1380.



DLF (spot)

The level 250 is crucial in the short term. If the scrip trades above this level, the short term would turn bullish and in the upper side it could test 200.

If it fails to sustain above 250, then the trend would turn bearish and in the downside it is likely to decline towards 150 initially.


Trading Strategy for DLF

For intraday, the crucial level is 200. Trade long above this level and be short below this level.

Positional traders can initiate shorts if it fails to sustain above 230 for a target of 150. Initiate longs if it sustains above 230 for a target of 250 and then 300.





Infosys (spot)

The level 1190 is crucial for this scrip in the short term. If it sustains above this level, then it is likely to see a rally from these levels towards 1300.

Instead, if it fails to sustain above 1190, the short term trend would turn bearish and in the downside it is likely to decline towards 1000 initially.



Trading Strategy for Infosys

For intraday, the crucial level is 1190. Trade long above this level and be short below this level.

Positional traders can initiate shorts if the scrip fails to sustain above 1190 for a target of 1000. Initiate longs if it sustains above 1190 for a target of 1300.




IFCI (spot)

The crucial level for the scrip in the short term is 23. The trend would remain bearish for this scrip if it sustains below 23 and in the down side, it could test 10.

If the scrip sustains above 23, then the scrip is likely to turn bullish in the short term and in the upper side it could rally towards 30.

Trading Strategy for IFCI

For intraday, the crucial level is 20.50. Trade long above this level and be short below this level.

Positional traders can initiate longs if the level 20 .50 is broken in the upside. Short if it fails to sustain above 20.50 for a target of 10.




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TECHNICAL OUTLOOK, 24 OCTOBER

Nifty (spot) 2943.15



Nifty Intraday trading levels

Today, if Nifty trades below 3000, then it could test 2900 and below 2900, it could test 2780. Instead, if it sustains above 3000, then it could test 3050.

Nifty Trading Strategy for intraday and positional trading

For intraday, the crucial level is 2900. Trade short below this level and trade long above this level till 3320.

Positional traders can initiate shorts if it fails to sustain above 3050 for a target of 2750 and trade long above 3050 for a target of 3250.



Short term Technical View of Nifty


The level 3150 is crucial in the short term. If it fails to sustain above 3150, then a decline to 2600 levels is likely.

Instead, if Nifty moves above 3150, then it is likely to rally to 3350.


Medium term outlook of Nifty dated on 14 October 2008

The medium term outlook of Nifty would remain bearish if it fails to sustain above 3800. Nifty is likely to bottom out in the medium term at 2550 levels or 2200 levels in coming months.





Long term outlook of Nifty dated on 13 October 2008

The long term outlook of Nifty is looking bullish and it seems that Nifty is in the middle of this bull run. So, the bull run is likely to continue for another 4 to 5 years and this view holds good as long as Nifty stays above 2200.







Short term trading calls of Stocks for spot market



Reliance (spot)

The level 1250 is crucial for this scrip for the short term. If it sustains above 1250, then it is likely to rally towards 1350.

Instead, if it fails to sustain above 1250 in coming trading sessions, then it is likely to turn weak and it could decline towards 1000 initially.

Trading Strategy for Reliance

For intraday, the crucial level is 1250. Trade long above these levels and trade short below these levels.

Positional traders can initiate longs if it moves above 1250 for a target of 1350. Initiate shorts if it fails to sustain above 1250 for a target of 1100 initially.



SBI (spot)

The crucial level for the short term for this scrip is 1390. If it fails to sustain above 1390, then it is likely to turn bearish and in the down side it could test 1250 in coming trading session and below 1250 the scrip is likely to test 1100.

Instead, if it sustains above 1390, then the short term trend would turn bullish and in the upper side it is likely to move towards 1450.

Trading Strategy for SBI

For Intraday, the crucial level is 1355. Trade long above this level and trade short below this level.

Positional traders can initiate shorts if it fails to sustain above 1390 for a target of 1100. And initiate longs if it sustains above 1390 for a target of 1450.



Rcom (spot)

The level 230 is crucial in the short term. If the scrip trades above this level, the short term would turn bullish and in the upper side it could test 280.

If it fails to sustain above 230, then the trend would turn bearish and in the downside it is likely to decline towards 180 initially.


Trading Strategy for Rcom

For intraday, the crucial level is 230. Trade long above this level and be short below this level.

Positional traders can initiate shorts if it fails to sustain above 230 for a target of 180. Initiate longs if it sustains above 230 for a target of 280.





Infosys (spot)

The level 1340 is crucial for this scrip in the short term. If it sustains above this level, then it is likely to see a rally from these levels towards 1400.

Instead, if it fails to sustain above 1340, the short term trend would turn bearish and in the downside it is likely to decline towards 1100 initially.



Trading Strategy for Infosys

For intraday, the crucial level is 1300. Trade long above this level and be short below this level.

Positional traders can initiate shorts if the scrip fails to sustain above 1340 for a target of 1100. Initiate longs if it moves above 1340 for a target of 1400.




Maruti (spot)

The crucial level for the scrip in the short term is 630. The trend would remain bearish for this scrip if it sustains below 630 and in the down side, it could test 500.

If the scrip sustains above 630, then the scrip is likely to turn bullish in the short term and in the upper side it could rally towards 700.

Trading Strategy for Maruti

For intraday, the crucial level is 610. Trade long above this level and be short below this level.

Positional traders can initiate longs if the level 630 is broken in the upside. Short if it fails to sustain above 630 for a target of 500.




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