Tuesday, September 02, 2008
TECHNICAL OUTLOOK, 2 SEPTEMBER
DAILY NEWSLETTER
NIFTY, RELIANCE CAPITAL, SBI
D Sathia Moorthy
Nifty (spot) 4348.65
Short term Technical View of Nifty
Now, Nifty is likely to rally towards 4700 by this month end and the next short term correction is likely to occur around 4700 level. This view holds good as long as Nifty stays above 4200 and a move above 4400 would confirm the view.
Instead, if it fails to hold above 4200 level, then it could decline towards 4000 in coming trading sessions.
Extreme Short term technical view of Nifty
In the extreme short term, the level 4325 is crucial. If Nifty sustains above this level, the trend would remain bullish.
Nifty Intraday trading levels
Today, if Nifty trades above 4380, then it could test 4450. Instead, if it fails to move above 4380, then it could test 4325.
Trading Strategy for Nifty
For intraday, the crucial level is 4380. Trade long above this level and be short below this level.
Positional traders can initiate longs on declines with a stop at 4325.
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Short term trading calls
Reliance Capital
The short term trend of this scrip is looking bullish and it is likely to test 1500 in the short term and this view holds good as long as it sustains above 1300.
On contrary, if it trades below 1300, the short term trend would turn bearish and in the downside it is likely to decline towards 1200.
Trading Strategy for Reliance Capital
For intraday, the crucial level is 1330. Trade long above this level and be short below this level.
Positional traders can initiate longs on declines with a stop at 1300.
SBI
The short term trend of this scrip is looking bullish and it is likely to test 1650 in the short term and this view holds good as long as it sustains above 1400.
On contrary, if it moves below 1400, then the short term trend would turn bearish and in the downside it is likely to decline towards 1300.
Trading Strategy for Tisco
The crucial level is 1400. Trade long above this level and be short below this level.
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Medium term outlook of Nifty dated on 02 July 2008
The medium term outlook of Nifty has turned bullish and it is likely to move towards 5500 by this year end and this view holds good as long as Nifty stays above 3600.
Long term outlook of Nifty dated on 02 July 2008
The long term outlook of Nifty is looking bullish and it seems that Nifty is in the middle of this bull run. So, the bullrun is likely to continue for another 4 to 5 years and this view holds good as long as Nifty stays above 3600.
Visit us at:
www.waveriders.in
www.sathiamoorthy.com
Contact:
9381203517
asksathia@hotmail.com
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Monday, September 01, 2008
TECHNICAL OUTLOOK, 1 SEPTEMBER
DAILY NEWSLETTER
D Sathia Moorthy
Nifty (spot) 4214.00
Short term Technical View of Nifty
Now, Nifty is likely to rally towards 4600 by this month end and this view holds good as long as Nifty stays above 4200.
Instead, if it fails to hold above 4200 level, then it could decline towards 4000 in coming trading sessions.
Extreme Short term technical view of Nifty
In the extreme short term, the level 4280 is crucial. If Nifty sustains above this level, the trend would remain bullish.
Nifty Intraday trading levels
Today, if Nifty trades below 4325, then it could test 4280. Instead, if it sustains above 4325, then it could test 4380.
Trading Strategy for Nifty
For intraday, the crucial level is 4280. Trade long above this level and be short below this level.
Positional traders can initiate longs on declines with a stop at 4200.
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Short term trading calls
Reliance
The short term trend of this scrip is looking bullish and it is likely to test 2300 in the short term and this view holds good as long as it sustains above 2050.
Below 2050, the short term trend would turn bearish and in the downside it is likely to decline towards 1950.
Trading Strategy for Reliance
For intraday, the crucial level is 2120. Trade long above this level and be short below this level.
Positional traders can initiate longs on declines with a stop at 2050.
Tisco
The short term trend of this scrip is looking bullish and it is likely to test 650 in the short term and this view holds good as long as it sustains above 580.
In contrary, if it moves below 580, then the short term trend would turn bearish and in the downside it is likely to decline towards 540.
Trading Strategy for Tisco
The crucial level is 580. Trade long above this level and be short below this level.
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Medium term outlook of Nifty dated on 02 July 2008
The medium term outlook of Nifty has turned bullish and it is likely to move towards 5500 by this year end and this view holds good as long as Nifty stays above 3600.
Long term outlook of Nifty dated on 02 July 2008
The long term outlook of Nifty is looking bullish and it seems that Nifty is in the middle of this bull run. So, the bullrun is likely to continue for another 4 to 5 years and this view holds good as long as Nifty stays above 3600.
Visit us at:
www.waveriders.in
www.sathiamoorthy.com
Contact:
9381203517
asksathia@hotmail.com
Yahoo Messenger Id - sathiamoorthyd@yahoo.com
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