Trading strategy-Reliance, Sbi, Axis Bank, Icici Bank, Tatasteel- 10 June 2010

Reliance

Today, 1000 is the crucial intraday level. Trade long above that level and trade short below that level.

The level 1025 is crucial for short term. Positional Traders, trade long above 1025, for a target of 1050. Trade short below 1025 for a target of 975.

Nifty is likely to test 4730 if it fails to sustain above 5110, 8 June 2010

The short term trend in Nifty is looking bearish and if it fails to sustain above 5110 in another 2 trading sessions would confirm a short term decline towards 4730.

And further, if the level 4730 is not held in coming trading sessions a vertical fall is likely below this level towards 4000 in coming weeks. Positional Traders can remain short below 5110 for an initial target of 4730.