Sensex- Technical Outlook and Trading Levels, 30 July 2010

Today, 18000 is the crucial intraday level for Sensex.

If Sensex sustains below 18000,  then it could test 17850 and below that level it could test 17790.
Instead, if Sensex trades above 18000, then it could test 18150 and above 18150 it could test 18300.

Short term Technical View of Sensex

The level 18250 is crucial for the short term. If it sustains above this level, then it could test 18400. Instead, if it fails to trade above this level, then it could decline towards 16500 levels.

Medium term outlook of Sensex dated on 14 December 2009

The medium term outlook of Sensex would remain bearish if it fails to sustain above 18000. Sensex is likely to bottom out in the medium term at 7000 levels in coming months.

Long term outlook of Sensex dated on 14 December 2009

The long term outlook of Sensex is looking bearish and it seems that Sensex is likely to bottom out in 3 years.

Technical View and Trading calls of Cnx IT & Bank Nifty, 30 July 2010

Bank Nifty Intraday levels and trading tips

Today, 10150 is crucial for Intraday.

If Bank Nifty sustains below 10150, then it could test 10000, and below that level it could test 9900.
Instead, if Bank Nifty trades above 10150, then it could test 10300.

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.