TECHNICAL OUTLOOK, 15 OCTOBER

Nifty (spot) 3518.65



Nifty Intraday trading levels

Today, if Nifty trades below 3480, then it could test 3400 and below 3400, it could test 3300. Instead, if it fails to trade below 3480, then it could test 3570.


Nifty Trading Strategy for intraday and positional trading

For intraday, the crucial level is 3480. Trade short below this level and trade long above this level.

Positional traders can initiate shorts if it fails to sustain above 3480 for a target of 3200. Trade long above 3580 for a target of 3700.



Short term Technical View of Nifty


The level 3800 is crucial in the short term. If it fails to sustain above 3800, then a decline to 3000 levels is likely.

Instead, if Nifty moves above 3800, then it is likely to rally from these levels to 4200 initially.


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

The level 1660 is crucial for this scrip for the short term. If it sustains above 1660, then it is likely to rally towards 1750 initially.

Instead, if it fails to sustain above 1660 in coming trading sessions, then it is likely to turn bearish and it could decline towards 1400 and below 1400, it has potential of declining towards 1200.

Trading Strategy for Reliance

For intraday, the crucial level is 1600. Trade long above these levels and trade short below these levels.

Positional traders can initiate longs if it moves above 1660 for a target of 1750. Initiate shorts if it fails to sustain above 1660 for a target of 1400 initially and then 1200.



SBI

The crucial levels for the short term for this scrip are 1570 and 1400. If it fails to sustain above 1570, then it is likely to turn bearish and in the down side it could test 1400 in coming trading sessions and below this level it could test 1200.

Instead, if it sustains above 1570, then the short term trend would turn bullish and in the upper side it is likely to move towards 1800.

Trading Strategy for SBI

For Intraday, the crucial level is 1525. Trade long above this level and trade short below this level.

Positional traders can initiate shorts if it fails to move above 1570 for a target of 1400. And initiate longs if it sustains above 1570.



Acc

The level 570 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 650.

If it fails to sustain above 570, then the trend would turn bearish and in the downside it is likely to decline towards 450 initially.


Trading Strategy for Acc

For intraday, the crucial level is 545. Trade long above this level and be short below this level.

Positional traders can initiate shorts if it fails to move above 570 for a target of 450. Initiate longs if it sustains above 570 for a target of 650.





Infosys

The level 1390 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 1600.

Instead, if it fails to sustain above 1390, the short term trend would turn bearish and in the downside it is likely to decline towards 1000 and a move below 1200 would confirm it.



Trading Strategy for Infosys

For intraday, the crucial level is 1410. Trade long above this level and be short below this level.

Positional traders can initiate shorts if the scrip fails to sustain above 1390 for a target of 1000. Initiate longs if it moves above 1390 for a target of 1600.




RPL

The crucial level for the scrip in the short term is 127. The trend would remain bearish for this scrip if it sustains below 127 and in the down side, it could test 100.

If the scrip moves above 127 in the short term, then the scrip is likely to turn bullish in the short term and in the upper side it could rally towards 140 initially.

Trading Strategy for RPL

For intraday, the crucial level is 123. Trade long above this level and be short below this level.

Positional traders can initiate longs if the level 127 is violated in the upside. Short if it fails to sustain above 127 for a target of 100.




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TECHNICAL OUTLOOK, 14 OCTOBER

Nifty (spot) 3490.70



Nifty Intraday trading levels

Today, if Nifty trades above 3500, then it could test 3620 and above 3620, it could test 3700. Instead, if it fails to trade above 3620, then it could test 3500.


Nifty Trading Strategy for intraday and positional trading

For intraday, the crucial level is 3620. Trade short below this level and trade long above this level.

Positional traders can initiate longs if it sustains above 3620 for a target of 3800. Trade short below 3620 for a target of 3400.



Short term Technical View of Nifty


The level 3800 is crucial in the short term. If it fails to sustain above 3800, then a decline to 3000 levels is likely.

Instead, if Nifty moves above 3800, then it is likely to rally from these levels to 4200 initially.


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

The level 1580 is crucial for this scrip for the short term. If it sustains above 1580, then it is likely to rally towards 1660 initially.

Instead, if it fails to sustain above 1580 in coming trading sessions, then it is likely to turn bearish and it could decline towards 1400 and below 1400, it has potential of declining towards 1200.

Trading Strategy for Reliance

For intraday, the crucial level is 1620. Trade long above these levels and trade short below these levels.

Positional traders can initiate longs if it moves above 1580 for a target of 1660. Initiate shorts if it fails to sustain above 1580 for a target of 1400. Or initiate shorts around 1660, in case if it moves to this region.



SBI

The crucial levels for the short term for this scrip are 1640. If it fails to sustain above 1640, then it is likely to turn bearish and in the down side it could test 1200 in coming trading sessions.

Instead, if it sustains above 1640, then the short term trend would turn bullish and in the upper side it is likely to move towards 1800.

Trading Strategy for SBI

For Intraday, the crucial level is 1540. Trade long above this level and trade short below this level.

Positional traders can initiate shorts if it fails to move above 1640. And initiate shorts if it sustains below 1640.



Rcom

The level 320 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 380.

If it fails to sustain above 320, then the trend would turn bearish and in the downside it is likely to decline towards 200 initially.


Trading Strategy for Rcom

For intraday, the crucial level is 280. Trade long above this level till 310 and be short below this level.

Positional traders can initiate shorts if it fails to move above 320 for a target of 200. Initiate longs if it sustains above 320 for a target of 380.





Infosys

The level 1390 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 1600.

Instead, if it fails to trade above 1390, the short term trend would turn bearish and in the downside it is likely to decline towards 1000 and a move below 1200 would confirm it.



Trading Strategy for Infosys

For intraday, the crucial level is 1340. Trade long above this level and be short below this level.

Positional traders can initiate shorts if the scrip fails to sustain above 1390 for a target of 1000. Initiate longs if it moves above 1390 for a target of 1600.




Reliance Capital

The crucial level for the scrip in the short term is 900. The trend would remain bearish for this scrip if it sustains below 900 and in the down side, it could test 600.

If the level 900 is violated in the short term, then the scrip is likely to turn bullish in the short term and in the upper side it could rally towards 1100 initially.

Trading Strategy for Reliance Capital

For intraday, the crucial level is 815. Trade long above this level and be short below this level.

Positional traders can initiate longs if the level 900 is violated in the upside. Short if it fails to sustain above 900 for a target of 600.




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