Trading strategy and intraday tips -Reliance, Sbi, Axis Bank, Icici Bank, Tatasteel- 24 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, 2805 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, 1375 is the crucial intraday level. Trade long above that level and trade short below that level.

The level 1400 is crucial for short term. Positional Traders, trade long above 1400, for a target of 1430. Trade short below 1400 for a target of 1340.

Icici Bank

Today, 1020 is the crucial intraday level. Trade long above that level and trade short below that level.

The level 1020 is crucial for short term. Positional Traders, trade long above 1020, for a target of 1050. Trade short below 1020 for a target of 940.

Tata Steel

Today, 530 is the crucial intraday level. Trade long above that level and trade short below that level.

The level 530 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.

Nifty Technical Outlook, Positional & Intraday Trading Levels, calls, and tips, 20 August 2010

Today, 5550 is the crucial intraday level for Nifty.

If Nifty sustains below 5550, then it could test 5480 and below that level it could test 5430.

Instead, if Nifty trades above 5550, then it could test 5580.

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.