Trading strategy - Reliance, Sbi, Axis Bank, Icici Bank, Tatasteel - 7 August 2014

Reliance

Today, 980 the crucial intraday level. Trade long above that level and trade short below that level in the intraday.

The level 980 is crucial for short term. Positional Traders, trade long above 980 for a target of 1005. Trade short below 980 for a target of 950.

Nifty Technical Outlook, Positional & Intraday Trading Levels, 6 August 2014

Today, 7765 is the crucial intraday level for Nifty.

If Nifty sustains below 7765, then it could test 7640 and below that level it could test 7560.
Instead, if Nifty trades above 7765, then it could test 7800.