Technical View and Trading calls of Cnx IT & Bank Nifty, 20 August 2010

Bank Nifty Intraday levels and trading tips

Today, 11150 is crucial for Intraday.

If Bank Nifty sustains below 11150, then it could test 11050, and below that level it could test 10850.
Instead, if Bank Nifty trades above 11150, then it could test 12000.

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 10800.

Cnx IT Intraday levels and and trading tips

Today, 6180 is the crucial intraday level.

If Cnx IT sustains above 6180, then it could test 6230. 
Instead, if Cnx IT trades below 6180, then it could test 6130 and below that level it could test 6060.

Short term Technical View of Cnx IT

The level 6230 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 5650 level. Instead, if it trades above 6230, then it could test 6500.

Trading strategy and intraday tips -Reliance, Sbi, Axis Bank, Icici Bank, Tatasteel- 20 August 2010

Reliance

Today, 975 is the crucial intraday level. Trade long above that level and trade short below that level.

The level 1000 is crucial for short term. Positional Traders, trade long above 1000, for a target of 1040. Trade short below 1000 for a target of 950.

SBI

Today, 2810 is the crucial intraday level. Trade long above that level and trade short below that level.

The level 2845 is crucial for short term. Positional Traders, trade long above 2845, for a target of 2880. Trade short below 2845 for a target of 2670.

Axis Bank

Today, 1340 is the crucial intraday level. Trade long above that level and trade short below that level.

The level 1340 is crucial for short term. Positional Traders, trade long above 1340, for a target of 1375. Trade short below 1340 for a target of 1260.

Icici Bank

Today, 990 is the crucial intraday level. Trade long above that level and trade short below that level.

The level 990 is crucial for short term. Positional Traders, trade long above 985, for a target of 1020. Trade short below 985 for a target of 940.

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 530, for a target of 555. Trade short below 530 for a target of 490.