Nifty Trading well below the crucial level of 6040 and made a lower top today

Earlier we have given 6040 as a crucial. It was stated earlier it would be bullish above this level. But, in contrary to the expectation, Nifty is trading below that level. And also today, it reacted sharply from its earlier high of 6073 which is a bearish sign. In the downside a break of 5990 would foretell a correction towards 5800 in coming trading sessions. One can go short below 5990 with a stop 6040 for a target of 5800 in coming trading sessions.

Positional Trade- Buy SBI Futures @ 3200, Target 3250- 29 September 2010

The short term trend of SBI is looking bullish and it is likely to test 3250 in another 2 or 3 trading sessions. Positional Traders can trade long in this scrip at 3200, with a stop at 3185 for a target of 3250. Below 3185, exit long positions.