Sensex- Technical Outlook and Trading Levels, 06 September 2010

Today, 18350 is the crucial intraday level for Sensex.

If Sensex sustains below 18350,  then it could test 18200 and below that level it could test 18100.
Instead, if Sensex trades above 18350, then it could test 18450.

Short term Technical View of Sensex

The level 18500 is crucial for the short term. If it sustains above this level, then it could test 18900. Instead, if it fails to trade above this level, then it could decline towards 17800 levels.

Medium term outlook of Sensex dated on 2 August 2010

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 13300 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, 06 September 2010

Bank Nifty Intraday levels and trading tips

Today, 10980 is crucial for Intraday.

If Bank Nifty sustains below 10980, then it could test 10930, and below that level it could test 10850.
Instead, if Bank Nifty trades above 10980, then it could test 11030.

Short term Technical View of Bank Nifty

The level 11200 is crucial for Bank Nifty in the short term. As long as it trades below that level, a decline to 9800 level is likely. Instead, if it trades above 11200, then it could test 11400.

Cnx IT Intraday levels and and trading tips

Today, 6100 is the crucial intraday level.

If Cnx IT sustains above 6100, then it could test 6150 and above that level it could test 6200.
Instead, if Cnx IT trades below 6100, then it could test 6050 and below that level it could test 6000.

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.