Nifty Technical Outlook, Positional & Intraday Trading Levels, calls, and tips, 26 August 2010

Today, 5475 is the crucial intraday level for Nifty.

If Nifty sustains below 5475, then it could test 5450 and below that level it could test 5395.

Instead, if Nifty trades above 5475, then it could test 5510.

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.

Nifty Futures Technical Analysis - Intraday and Positional Trading calls, 26 August 2010

Today, 5475 is the crucial Intraday Level for Nifty Futures.

If Nifty Futures sustains below 5475, then it could test 5450 and below that level it could test 5395. 
Instead, if Nifty futures trades above 5475, then it could test 5510.

Nifty Futures intraday Trading Strategy

For intraday, the crucial level is 5475. Trade short below this level and trade long above this level.

Nifty Futures Positional Trading Strategy

Positional traders can initiate shorts if it fails to sustain above 5550 for a target of 5100 with a stop at 5550 and trade long above 5550 for a target of 5650 with a stop at 5500.