Trading strategy - Reliance, Sbi, Axis Bank, Icici Bank, Tatasteel - 12 May 2014

Reliance

Today, 1000 the crucial intraday level. Trade long above that level and trade short below that level in the intraday.

The level 1000 is crucial for short term. Positional Traders, trade long above 1000 for a target of 1050. Trade short below 1000 for a target of 980.

Nifty Technical Outlook, Positional & Intraday Trading Levels, 9 May 2014

Today, 6700 is the crucial intraday level for Nifty.

If Nifty sustains below 6700, then it could test 6650 and below that level it could test 6600.
Instead, if Nifty trades above 6700, then it could test 6800.