TECHNICAL OUTLOOK, 23 OCTOBER

Nifty (spot) 3065.15

Nifty Intraday trading levels

Today, if Nifty trades below 3050, then it could test 2950 and below 2950, it could test 2850. Instead, if it sustains above 2950, then it could test 3000.

Nifty Trading Strategy for intraday and positional trading

For intraday, the crucial level is 3050. Trade short below this level and trade long above this level.Positional traders can initiate shorts if it fails to sustain above 3050 for a target of 2800 and trade long above 3100 for a target of 3260.

Short term Technical View of Nifty

The level 3250 is crucial in the short term. If it fails to sustain above 3250, then a decline to 2600 levels is likely.Instead, if Nifty moves above 3250, then it is likely to rally to 3500.



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 1280 is crucial for this scrip for the short term. If it sustains above 1280, then it is likely to rally towards 1450.

Instead, if it fails to sustain above 1280 in coming trading sessions, then it is likely to turn bearish and it could decline towards 1000 initially.


Trading Strategy for Reliance

For intraday, the crucial level is 1280. Trade long above these levels and trade short below these levels.

Positional traders can initiate longs if it moves above 1330 for a target of 1400. Initiate shorts if it fails to sustain above 1280 for a target of 1100 initially.


SBI (spot)

The crucial level for the short term for this scrip is 1370. If it fails to sustain above 1370, then it is likely to turn bearish and in the down side it could test 1200 in coming trading session.

Instead, if it sustains above 1370, 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 1370. Trade long above this level and trade short below this level.

Positional traders can initiate shorts if it fails to sustain above 1370 for a target of 1200. And initiate longs if it sustains above 1370 for a target of 1450.

Acc

The level 445 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 500.

If it fails to sustain above 445, then the trend would turn bearish and in the downside it is likely to decline towards 300 initially.

Trading Strategy for Acc

For intraday, the crucial level is 445. Trade long above this level and be short below this level.

Positional traders can initiate shorts if it fails to sustain above 445 for a target of 350. Initiate longs if it sustains above 445 for a target of 500.


Infosys (spot)

The level 1320 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 1320, the short term trend would turn bearish and in the downside it is likely to decline towards 1000 initally.

Trading Strategy for Infosys

For intraday, the crucial level is 1320. Trade long above this level and be short below this level.

Positional traders can initiate shorts if the scrip fails to sustain above 1320 for a target of 1100. Initiate longs if it moves above 1320 for a target of 1400.

Satyam (spot)

The crucial level for the scrip in the short term is 330. The trend would remain bearish for this scrip if it sustains below 330 and in the down side, it could test 200.

If the scrip sustains above 330, then the scrip is likely to turn bullish in the short term and in the upper side it could rally towards 390.

Trading Strategy for Satyam

For intraday, the crucial level is 315. Trade long above this level and be short below this level.

Positional traders can initiate longs if the level 330 is broken in the upside. Short if it fails to sustain above 330 for a target of 250.


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TECHNICAL OUTLOOK, 22 OCTOBER

Nifty (spot) 3234.90



Nifty Intraday trading levels

Today, if Nifty trades below 3260, then it could test 3150 and below 3150, it could test 3050. Instead, if it sustains above 3260, then it could test 3320.

Nifty Trading Strategy for intraday and positional trading

For intraday, the crucial level is 3260. Trade short below this level and trade long above this level till 3320.

Positional traders can initiate shorts if it fails to sustain above 3260 for a target of 3000 and trade long above 3260 for a target of 3320.



Short term Technical View of Nifty


The level 3350 is crucial in the short term. If it fails to sustain above 3350, then a decline to 2600 levels is likely.

Instead, if Nifty moves above 3350, then it is likely to rally to 3500.


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 1440 is crucial for this scrip for the short term. If it sustains above 1440, then it is likely to rally towards 1510.

Instead, if it fails to sustain above 1440 in coming trading sessions, then it is likely to turn bearish and it could decline towards 1200 initially.

Trading Strategy for Reliance

For intraday, the crucial level is 1440. Trade long above these levels and trade short below these levels.

Positional traders can initiate longs if it moves above 1440 for a target of 1510. Initiate shorts if it fails to sustain above 1440 for a target of 1200 initially.



SBI (spot)

The crucial level for the short term for this scrip is 1510. If it fails to sustain above 1510, then it is likely to turn bearish and in the down side it could test 1200 in coming trading session.

Instead, if it sustains above 1510, then the short term trend would turn bullish and in the upper side it is likely to move towards 1560.

Trading Strategy for SBI

For Intraday, the crucial level is 1460. Trade long above this level and trade short below this level.

Positional traders can initiate shorts if it fails to sustain above 1510 for a target of 1200. And initiate longs if it sustains above 1510 for a target of 1560.



Reliance capital (spot)

The level 700 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 800.

If it fails to sustain above 700, then the trend would turn bearish and in the downside it is likely to decline towards 600 initially.


Trading Strategy for Reliance capital

For intraday, the crucial level is 700. Trade long above this level and be short below this level.

Positional traders can initiate shorts if it fails to sustain above 700 for a target of 600. Initiate longs if it sustains above 700 for a target of 800.





Infosys (spot)

The level 1400 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 1500.

Instead, if it fails to sustain above 1400, the short term trend would turn bearish and in the downside it is likely to decline towards 1200 initally.



Trading Strategy for Infosys

For intraday, the crucial level is 1350. Trade long above this level and be short below this level.

Positional traders can initiate shorts if the scrip fails to sustain above 1410 for a target of 1200. Initiate longs if it moves above 1400 for a target of 1500.




Tcs (spot)

The crucial level for the scrip in the short term is 580. The trend would remain bearish for this scrip if it sustains below 580 and in the down side, it could test 500 and below 500, it could test 450.

If the scrip sustains above 580, then the scrip is likely to turn bullish in the short term and in the upper side it could rally towards 640.

Trading Strategy for Tcs

For intraday, the crucial level is 580. Trade long above this level and be short below this level.

Positional traders can initiate longs if the level 580 is broken in the upside. Short if it fails to sustain above 580 for a target of 500.




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