TECHNICAL OUTLOOK, 30 SEPTEMBER

Nifty (spot) 3850.05



Nifty Intraday trading levels

Today, if Nifty trades below 3780, then it could test 3600. Instead, if it trades above 3850, then it could test 3900.



Nifty Trading Strategy for intraday and positional trading

For intraday, the crucial level is 3780. Trade short below this level and trade long above this level.

Positional traders can initiate shorts below 3780 for a target of 3600. Initiate longs if it sustains above 3550-3600.



Short term Technical View of Nifty

It seems Nifty is likely to test 3500-3600 levels. And this range is crucial for the short term trend of the market.

If it sustains above this level, then the market is likely to rally from these levels. If not further downside is possible.


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 bull run is likely to continue for another 4 to 5 years and this view holds good as long as Nifty stays above 3600.





Short term trading calls of Stocks for spot market



Abb

The level 750 is the crucial level for this scrip for the short term. If it fails to sustain above 750, then it is likely to decline towards 650.

Like wise, if it sustains above 650 in coming trading sessions, then it is likely to turn bullish and it could rally from these levels towards 750 initially.


Trading Strategy for Abb

For intraday, the crucial level is 750. Trade long above this level and trade short below this level.

Positional traders can initiate longs if it fails to move below 650 for a target of 750. Initiate shorts if it fails to sustain above 750 for a target of 650.



ACC

The crucial level for the short term for this scrip is 540. If it sustains above 540, then it is likely to turn bullish and in the upper side it could test 650.

Instead, if it fails to sustain above 540, then the short term trend would turn bearish and in the downside it is likely to decline towards 400.

Trading Strategy for Acc

For Intraday, the crucial level is 580. Trade long above this level and trade short below this level.

Positional traders can initiate longs if it fails to move below 540. And initiate shorts if it sustains below 620.



Bharti

The level 670 is crucial in the short term. If the scrip trades above this level, the short term would turn bullish and in the upper side it could test 770.

If it fails to sustain above 670, then the trend would turn bearish and in the downside it is likely to decline towards 500.


Trading Strategy for Bharti

For intraday, the crucial level is 750. Trade long above this level and be short below this level.

Positional traders can initiate shorts if it fails to sustain above 6700. Initiate longs if it fails to move below 670 for a target of 750.





Bhel

The level 1350 is crucial for this scrip in the short term. If it sustains above this level, then it is likely to see a rally from these levels towards 1600.

Instead, if it fails to trade above 1350, the short term trend would turn bearish and in the downside it is likely to decline towards 1200.



Trading Strategy for Bhel

For intraday, the crucial level is 1500. Trade long above this level and be short below this level.

Positional traders can initiate shorts if the scrip fails to sustain above 1500. Initiate longs if it fails to move below 1350.




Cairn

The crucial level for the scrip in the short term is 200. The trend would remain bearish for this scrip if it sustains below 200 and in the down side, it could test 160.

If the level 200 is not violated in the short term, then the scrip is likely to turn bullish in the short term and in the upper side it could rally towards 250 initially.

Trading Strategy for Cairn

For intraday, the crucial level is 200. Trade long above this level and be short below this level.

Positional traders can initiate longs if the level 200 is held in coming trading sessions. Short if it fails to sustain above 200 for a target of 160.



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TECHNICAL OUTLOOK, 29 SEPTEMBER

Nifty (spot) 4110.55



Nifty Intraday trading levels

Today, if Nifty trades above 4050, then it could test 4150. Instead, if it fails to trade above 4050, then it could test 3950.



Nifty Trading Strategy for intraday and positional trading

For intraday, the crucial level is 4050. Trade short below this level and trade long above this level.

Positional traders can initiate longs if it sustains above 4050 for a target of 4200.



Short term Technical View of Nifty

Now, the rally from the low of 3800 to 4305 is being corrected. The most likely level for Nifty to terminate its correction is around 3900-3950 level.

If the level 3900-3950 range is violated in the downside and the level 4240 in the upside is broken, then the market is likely to rally towards 4700.





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 bull run is likely to continue for another 4 to 5 years and this view holds good as long as Nifty stays above 3600.





Short term trading calls of Stocks for spot market



Reliance

The levels 2020 in the upper side and 1940 in the lower side are crucial levels for this scrip for the short term. If it fails to sustain above 1940, then it is likely to decline towards 1700.

Like wise, if it sustains above 2020 in coming trading sessions, then it is likely to turn bullish and it could rally from these levels towards 2350 initially.


Trading Strategy for Reliance

For intraday, the crucial level is 1980. Trade long above this level and trade short below this level.

Positional traders can initiate longs if it fails to move below 1950 for a target of 2350. Initiate shorts if it fails to sustain above 1950 for a target of 1700.



RPL

The crucial level for the short term for this scrip is 145. If it sustains above 145, then it is likely to turn bullish and in the upper side it could test 165.

Instead, if it fails to sustain above 145, then the short term trend would turn bearish and in the downside it is likely to decline towards 130.

Trading Strategy for Rpl

For Intraday, the crucial level is 150. Trade long above this level and trade short below this level.

Positional traders can initiate longs if it fails to move below 145. And initiate shorts if it sustains below 145.



Reliance Capital

The level 1120 is crucial in the short term. If the scrip trades above this level, the short term would turn bullish and in the upper side it could test 1300.

If it fails to sustain above 1120, then the trend would turn bearish and in the downside it is likely to decline towards 1000.


Trading Strategy for Reliance Capital

For intraday, the crucial level is 1190. Trade long above this level and be short below this level.

Positional traders can initiate shorts if it fails to sustain above 1120. Initiate longs if it fails to move below 1120 for a target of 1300.





Infosys

The level 1400 is crucial for this scrip in the short term. If it sustains above this level, then it is likely to see a rally from these levels towards 1750.

Instead, if it fails to trade above 1400, the short term trend would turn bearish and in the downside it is likely to decline towards 1200.



Trading Strategy for Infosys

For intraday, the crucial level is 1480. Trade long above this level and be short below this level.

Positional traders can initiate shorts if the scrip fails to sustain above 1400. Initiate longs if it fails to move below 1400.




IFCI

The crucial level for the scrip in the short term is 35. The trend would remain bearish for this scrip if it sustains below 35 and in the down side, it could test 25.

If the level 35 is not violated in the short term, then the scrip is likely to turn bullish in the short term and in the upper side it could rally towards 45 initially and above 45, it could test 55.

Trading Strategy for IFCI

For intraday, the crucial level is 38.50. Trade long above this level and be short below this level.

Positional traders can initiate longs if the level 35 is held in coming trading sessions. Short if it fails to sustain above 35 for a target of 25.






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