D Sathia Moorthy
Nifty (spot) 4348.85
Nifty Intraday trading levels and range
Today, if Nifty sustains below 4320, then it could test 4270 and below this level, it could test 4200.
Instead, if Nifty trades above 4320, then it could test 4370.
Nifty intraday Trading Strategy
For intraday, the crucial level is 4320. 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 4450 for a target of 3600 with a stop at 4450 and trade long above 4450 for a target of 4650 with a stop at 4450.
Short term Technical View of Nifty
Nifty is likely to test 4000 initially in the downside, if it fails to move above 4450 in coming trading sessions.
The rally from the low of 2545 seems to corrective and it is likely to top out around 4650. Initially it is likely to test 3600 in the downside.
Medium term outlook of Nifty dated on 20 May 2009
The medium term outlook of Nifty would remain bearish if it fails to sustain above 4650. 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 30 June 2009
The long term outlook of Nifty is looking bearish and it seems that Nifty is likely to bottom out in 1 year to 2 years 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 1990 is crucial for short term. If it sustains above 1990, then it is likely to rally towards 2120.
Instead, if it fails to sustain above 1990 in coming trading sessions, then it is likely to turn weak and it could decline towards 1850 initially.
Trading Strategy for Reliance
For intraday, the crucial level is 1990. Trade long above these levels and trade short below these levels.
Positional traders can initiate longs if it sustains above 1990 for a target of 2120. Initiate shorts if it fails to sustain above 1990 for a target of 1850.
SBI (spot)
The crucial level for the short term for this scrip is 1730. If it fails to sustain above 1730, then it is likely to turn bearish and in the down side it could test 1600 in coming trading sessions.
Instead, if it sustains above 1730, then the short term trend would turn bullish and in the upper side it is likely to move towards 1780.
Trading Strategy for SBI
For Intraday, the crucial level is 1730. Trade long above this level and trade short below this level.
Positional traders can initiate shorts if it fails to sustain above 1730 for a target of 1600. And initiate longs if it sustains above 1730 for a target of 1780.
Rcom (spot)
The level 300 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 315.
If it fails to sustain above 300, then the trend would turn bearish and in the downside it is likely to decline towards 250 initially.
Trading Strategy for Rcom
For intraday, the crucial level is 300. Trade long above this level and be short below this level.
Positional traders can initiate shorts if it fails to sustain above 300 for a target of 250. Initiate longs if it sustains above 300 for a target of 315.
Icici Bank (spot)
The level 730 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 775.
Instead, if it fails to sustain above 730, the short term trend would turn bearish and in the downside it is likely to decline towards 650 initially.
Trading Strategy for Icici Bank
For intraday, the crucial level is 715 . Trade long above this level and be short below this level.
Positional traders can initiate shorts if the scrip fails to sustain above 730 for a target of 650. Initiate longs if it sustains above 730 for a target of 775.
Tata Steel (spot)
The crucial level for the scrip in the short term is 430. The trend would remain bearish for this scrip if it sustains below 430 and in the down side, it could test 350 initially.
If the scrip sustains above 430 then the scrip is likely to turn bullish in the short term and in the upper side it could rally towards 450.
Trading Strategy for Tata Steel
For intraday, the crucial level is 430. Trade long above this level and be short below this level.
Positional traders can initiate longs if the scrip sustains above 430 in the upside for a target of 450. Short if it fails to sustain above 430 for a target of 350.
Visit us at:
www.sathiamoorthy.com
Contact:
9381203517
sathiamoorthyd@gmail.com
Yahoo Messenger Id - sathiamoorthyd@yahoo.com
Chennai
Nifty (spot) 4348.85
Nifty Intraday trading levels and range
Today, if Nifty sustains below 4320, then it could test 4270 and below this level, it could test 4200.
Instead, if Nifty trades above 4320, then it could test 4370.
Nifty intraday Trading Strategy
For intraday, the crucial level is 4320. 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 4450 for a target of 3600 with a stop at 4450 and trade long above 4450 for a target of 4650 with a stop at 4450.
Short term Technical View of Nifty
Nifty is likely to test 4000 initially in the downside, if it fails to move above 4450 in coming trading sessions.
The rally from the low of 2545 seems to corrective and it is likely to top out around 4650. Initially it is likely to test 3600 in the downside.
Medium term outlook of Nifty dated on 20 May 2009
The medium term outlook of Nifty would remain bearish if it fails to sustain above 4650. 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 30 June 2009
The long term outlook of Nifty is looking bearish and it seems that Nifty is likely to bottom out in 1 year to 2 years 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 1990 is crucial for short term. If it sustains above 1990, then it is likely to rally towards 2120.
Instead, if it fails to sustain above 1990 in coming trading sessions, then it is likely to turn weak and it could decline towards 1850 initially.
Trading Strategy for Reliance
For intraday, the crucial level is 1990. Trade long above these levels and trade short below these levels.
Positional traders can initiate longs if it sustains above 1990 for a target of 2120. Initiate shorts if it fails to sustain above 1990 for a target of 1850.
SBI (spot)
The crucial level for the short term for this scrip is 1730. If it fails to sustain above 1730, then it is likely to turn bearish and in the down side it could test 1600 in coming trading sessions.
Instead, if it sustains above 1730, then the short term trend would turn bullish and in the upper side it is likely to move towards 1780.
Trading Strategy for SBI
For Intraday, the crucial level is 1730. Trade long above this level and trade short below this level.
Positional traders can initiate shorts if it fails to sustain above 1730 for a target of 1600. And initiate longs if it sustains above 1730 for a target of 1780.
Rcom (spot)
The level 300 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 315.
If it fails to sustain above 300, then the trend would turn bearish and in the downside it is likely to decline towards 250 initially.
Trading Strategy for Rcom
For intraday, the crucial level is 300. Trade long above this level and be short below this level.
Positional traders can initiate shorts if it fails to sustain above 300 for a target of 250. Initiate longs if it sustains above 300 for a target of 315.
Icici Bank (spot)
The level 730 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 775.
Instead, if it fails to sustain above 730, the short term trend would turn bearish and in the downside it is likely to decline towards 650 initially.
Trading Strategy for Icici Bank
For intraday, the crucial level is 715 . Trade long above this level and be short below this level.
Positional traders can initiate shorts if the scrip fails to sustain above 730 for a target of 650. Initiate longs if it sustains above 730 for a target of 775.
Tata Steel (spot)
The crucial level for the scrip in the short term is 430. The trend would remain bearish for this scrip if it sustains below 430 and in the down side, it could test 350 initially.
If the scrip sustains above 430 then the scrip is likely to turn bullish in the short term and in the upper side it could rally towards 450.
Trading Strategy for Tata Steel
For intraday, the crucial level is 430. Trade long above this level and be short below this level.
Positional traders can initiate longs if the scrip sustains above 430 in the upside for a target of 450. Short if it fails to sustain above 430 for a target of 350.
Visit us at:
www.sathiamoorthy.com
Contact:
9381203517
sathiamoorthyd@gmail.com
Yahoo Messenger Id - sathiamoorthyd@yahoo.com
Chennai
