Trading strategy and intraday tips -Reliance, Sbi, Axis Bank, Icici Bank, Tatasteel- 08 September 2010

Reliance

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

The level 975 is crucial for short term. Positional Traders, trade long above 975, for a target of 1000. Trade short below 975 for a target of 900.

SBI

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

The level 2810 is crucial for short term. Positional Traders, trade long above 2810, for a target of 2885. Trade short below 2810 for a target of 2730.

Axis Bank

Today, 1405 is the crucial intraday level. Trade long above that level and trade short below that level.

The level 1405 is crucial for short term. Positional Traders, trade long above 1405, for a target of 1425. Trade short below 1405 for a target of 1345.

Icici Bank

Today, 1045 is the crucial intraday level. Trade long above that level and trade short below that level.

The level 1045 is crucial for short term. Positional Traders, trade long above 1045, for a target of 1080. Trade short below 1045 for a target of 1000.

Tata Steel

Today, 577 is the crucial intraday level. Trade long above that level and trade short below that level.

The level 577 is crucial for short term. Positional Traders, trade long above 577, for a target of 590. Trade short below 577 for a target of 555.

Nifty Technical Outlook, Positional & Intraday Trading Levels, calls, and tips, 07 September 2010

Today, 5580 is the crucial intraday level for Nifty.

If Nifty sustains below 5580, then it could test 5545 and below that level it could test 5510.

Instead, if Nifty trades above 5575, then it could test 5620.

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.