TECHNICAL OUTLOOK, 3 MARCH

D Sathia Moorthy


Nifty (spot) 2674.60



Nifty Intraday trading levels and range

Today, if Nifty trades below 2680 then it could test 2600 and below this level it could test 2550.

Instead, if it sustains above 2680, then it could test 2700.


Nifty intraday Trading Strategy

For intraday, the crucial level is 2680. Trade short below this level and trade long above this level.


Nifty Positional Trading Strategy


Positional traders can initiate shorts if it fails to sustain above 2750 for a target of 2500 with a stop at 2800 and trade long above 2800 for a target of 2950 with a stop at 2750.



Short term Technical View of Nifty


The short term trend is looking weak and it is likely to test 2500 initially and then it could decline towards 2000 and this view holds good as long as Nifty stays below 2850.






Medium term outlook of Nifty dated on 14 October 2008

The medium term outlook of Nifty would remain bearish if it fails to sustain above 3100. Nifty is likely to bottom out in the medium term at 2000-2200 levels in coming months and if it fails to sustain above this level, then it is likely to decline below 2000 levels.





Long term outlook of Nifty dated on 13 October 2008

The long term outlook of Nifty is looking bearish and it seems that Nifty is likely to bottom out in 6 months to 1 year if the bottom forms around 2000. If the level 2000 is not held, then Nifty is likely to take more than 1 year to bottom out.





Short term trading calls of Stocks for spot market



Reliance (spot)

The level 1240 is crucial for short term. If it sustains above 1240, then it is likely to rally towards 1300.

Instead, if it fails to sustain above 1240 in coming trading sessions, then it is likely to turn weak and it could decline towards 1100 initially.

Trading Strategy for Reliance

For intraday, the crucial level is 1240. Trade long above these levels and trade short below these levels.

Positional traders can initiate longs if it moves above 1240 for a target of 1300. Initiate shorts if it fails to sustain above 1240 for a target of 1100 initially.



SBI (spot)

The crucial level for the short term for this scrip is 1020. If it fails to sustain above 1020, then it is likely to turn bearish and in the down side it could test 850 in coming trading sessions.

Instead, if it sustains above 1020, then the short term trend would turn bullish and in the upper side it is likely to move towards 1180.


Trading Strategy for SBI

For Intraday, the crucial level is 1025. Trade long above this level and trade short below this level.

Positional traders can initiate shorts if it fails to sustain above 1020 for a target of 850. And initiate longs if it sustains above 1020 for a target of 1080.



Infosys (spot)

The level 1250 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 1250, then the trend would turn bearish and in the downside it is likely to decline towards 1000 initially.


Trading Strategy for Infosys


For intraday, the crucial level is 1230. Trade long above this level and be short below this level.

Positional traders can initiate shorts if it fails to sustain above 1250 for a target of 1000. Initiate longs if it sustains above 1250 for a target of 1300.





Rcom (spot)

The level 155 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 165.

Instead, if it fails to sustain above 155, the short term trend would turn bearish and in the downside it is likely to decline towards 125 initially.



Trading Strategy for Rcom

For intraday, the crucial level is 148. Trade long above this level and be short below this level.

Positional traders can initiate shorts if the scrip fails to sustain above 155 for a target of 125. Initiate longs if it sustains above 155 for a target of 165.




Maruti (spot)

The crucial level for the scrip in the short term is 690. The trend would remain bearish for this scrip if it sustains below 690 and in the down side, it could test 550 initially.

If the scrip sustains above 690, then the scrip is likely to turn bullish in the short term and in the upper side it could rally towards 720.


Trading Strategy for Maruti

For intraday, the crucial level is 680. Trade long above this level and be short below this level.

Positional traders can initiate longs if the level 690 is broken in the upside for a target of 720. Short if it fails to sustain above 690 for a target of 550.


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TECHNICAL OUTLOOK, 2 MARCH

D Sathia Moorthy


Nifty (spot) 2785.65



Nifty Intraday trading levels and range

Today, if Nifty trades below 2710 then it could test 2650 and below this level it could test 2600.

Instead, if it sustains above 2710, then it could test 2760.


Nifty intraday Trading Strategy

For intraday, the crucial level is 2710. Trade short below this level and trade long above this level.


Nifty Positional Trading Strategy


Positional traders can initiate shorts if it fails to sustain above 2750 for a target of 2500 with a stop at 2800 and trade long above 2800 for a target of 2950 with a stop at 2750.



Short term Technical View of Nifty


The short term trend is looking weak and it is likely to test 2500 initially and then it could decline towards 2000 and this view holds good as long as Nifty stays below 2850.






Medium term outlook of Nifty dated on 14 October 2008

The medium term outlook of Nifty would remain bearish if it fails to sustain above 3100. Nifty is likely to bottom out in the medium term at 2000-2200 levels in coming months and if it fails to sustain above this level, then it is likely to decline below 2000 levels.





Long term outlook of Nifty dated on 13 October 2008

The long term outlook of Nifty is looking bearish and it seems that Nifty is likely to bottom out in 6 months to 1 year if the bottom forms around 2000. If the level 2000 is not held, then Nifty is likely to take more than 1 year to bottom out.





Short term trading calls of Stocks for spot market



Reliance (spot)

The level 1300 is crucial for short term. If it sustains above 1300, then it is likely to rally towards 1340.

Instead, if it fails to sustain above 1300 in coming trading sessions, then it is likely to turn weak and it could decline towards 1100 initially.

Trading Strategy for Reliance

For intraday, the crucial level is 1265. Trade long above these levels and trade short below these levels.

Positional traders can initiate longs if it moves above 1300 for a target of 1340. Initiate shorts if it fails to sustain above 1300 for a target of 1100 initially.



SBI (spot)

The crucial level for the short term for this scrip is 1040. If it fails to sustain above 1040, then it is likely to turn bearish and in the down side it could test 900 in coming trading sessions.

Instead, if it sustains above 1040, then the short term trend would turn bullish and in the upper side it is likely to move towards 1080.


Trading Strategy for SBI

For Intraday, the crucial level is 1025. Trade long above this level and trade short below this level.

Positional traders can initiate shorts if it fails to sustain above 1040 for a target of 900. And initiate longs if it sustains above 1040 for a target of 1080.



Infosys (spot)

The level 1250 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 1250, then the trend would turn bearish and in the downside it is likely to decline towards 1000 initially.


Trading Strategy for Infosys


For intraday, the crucial level is 1230. Trade long above this level and be short below this level.

Positional traders can initiate shorts if it fails to sustain above 1250 for a target of 1000. Initiate longs if it sustains above 1250 for a target of 1300.





Idea Cellular (spot)

The level 50 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 60.

Instead, if it fails to sustain above 50, the short term trend would turn bearish and in the downside it is likely to decline towards 35 initially.



Trading Strategy for Idea Cellular

For intraday, the crucial level is 50. Trade long above this level and be short below this level.

Positional traders can initiate shorts if the scrip fails to sustain above 50 for a target of 35. Initiate longs if it sustains above 50 for a target of 60.




ICICI Bank (spot)

The crucial level for the scrip in the short term is 350. The trend would remain bearish for this scrip if it sustains below 350 and in the down side, it could test 280 initially.

If the scrip sustains above 350, then the scrip is likely to turn bullish in the short term and in the upper side it could rally towards 380.


Trading Strategy for Icici Bank

For intraday, the crucial level is 350. Trade long above this level and be short below this level.

Positional traders can initiate longs if the level 350 is broken in the upside for a target of 380. Short if it fails to sustain above 350 for a target of 280.


Visit us at:
www.sathiamoorthy.com


Contact:
9381203517
sathiamoorthyd@gmail.com
Yahoo Messenger Id - sathiamoorthyd@yahoo.com
Chennai