Trading strategy and intraday tips -Reliance, Sbi, Axis Bank, Icici Bank, Tatasteel- 4 August 2010

Reliance

Today, 1030 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 1090. Trade short below 1050 for a target of 970.

SBI

Today, 2580 is the crucial intraday level. Trade long above that level and trade short below that level.

The level 2580 is crucial for short term. Positional Traders, trade long above 2580, for a target of 2635. Trade short below 2580 for a target of 2525.

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

The level 930 is crucial for short term. Positional Traders, trade long above 930, for a target of 970. Trade short below 930 for a target of 875.

Tata Steel

Today, 525 is the crucial intraday level. Trade long above that level and trade short below that level.

The level 525 is crucial for short term. Positional Traders, trade long above 525, for a target of 555. Trade short below 525 for a target of 490.

Nifty Technical Outlook, Positional & Intraday Trading Levels, calls, and tips, 3 August 2010

Today, 5410 is the crucial intraday level for Nifty.

If Nifty sustains below 5410, then it could test 5360 and below that level it could test 5320.
Instead, if Nifty trades above 5410, then it could test 5470 and above that level it could test 5500.

Short term Technical View of Nifty

For the short term, the level 5550 is crucial. If it sustains below this level, then it is likely to test 5100. Instead, if it trades above 5550, then it is likely to test 5650. 

Medium term outlook of Nifty dated on 30 July 2010

The medium term outlook of Nifty would remain bearish if it fails to sustain above 5550. Nifty is likely to see a medium correction from 5550 and it is likely to be in correction mode for another 1 year.

Long term outlook of Nifty dated on 30 July 2010

The long term outlook of Nifty is looking bearish and the present bull market from the low of 2003 is likely to terminate in 2010 around 5550 and it is likely to followed by 2 to 3 years bear market.

Reality, Power, and Infrastructure sector is likely to underperform the overall market. FMCG, Pharma, and Banking sectors are likely to perform better in coming years.