Technical View and Trading calls of Cnx IT & Bank Nifty, 29 July 2010

Bank Nifty Intraday levels and trading tips

Today, 10000 is crucial for Intraday.

If Bank Nifty sustains below 10000, then it could test 9900, and below that level it could test 9750.
Instead, if Bank Nifty trades above 10000, then it could test 10150.

Short term Technical View of Bank Nifty

The level 8825 is crucial for Bank Nifty in the short term. As long as it trades below that level, a decline to 8000 level is likely. Instead, if it trades above 8825, then it could test 10150.

Cnx IT Intraday levels and and trading tips

Today, 6140 is the crucial intraday level.

If Cnx IT sustains above 6140, then it could test 6200 and above that level it could test 6230. 
Instead, if Cnx IT trades below 6140, then it could test 6070 and below that level it could test 6030.

Short term Technical View of Cnx IT

The level 5900 is crucial for Cnx IT is the short term. If it fails to move above this level, then it is likely to see a short term correction towards 5300 level. Instead, if it trades above 5900, then it could test 6020.

Trading strategy and intraday tips -Reliance, Sbi, Axis Bank, Icici Bank, Tatasteel- 29 July 2010

Reliance

Today, 1050 is the crucial intraday level. Trade long above that level and trade short below that level.

The level 1050 is crucial for short term. Positional Traders, trade long above 1050, for a target of 1100. Trade short below 1050 for a target of 1000.

SBI

Today, 2390 is the crucial intraday level. Trade long above that level and trade short below that level.

The level 2390 is crucial for short term. Positional Traders, trade long above 2390, for a target of 2460. Trade short below 2390 for a target of 2320.

Axis Bank

Today, 1370 is the crucial intraday level. Trade long above that level and trade short below that level.

The level 1370 is crucial for short term. Positional Traders, trade long above 1370, for a target of 1420. Trade short below 1370 for a target of 1290.

Icici Bank

Today, 910 is the crucial intraday level. Trade long above that level and trade short below that level.

The level 910 is crucial for short term. Positional Traders, trade long above 910, for a target of 930. Trade short below 910 for a target of 875.

Tata Steel

Today, 520 is the crucial intraday level. Trade long above that level and trade short below that level.

The level 520 is crucial for short term. Positional Traders, trade long above 520, for a target of 555. Trade short below 520 for a target of 490.