Nifty (spot) 4658.30
Nifty Intraday trading levels and range
Today, if Nifty sustains below 4610, then it could test 4540 and below that level it coult test 4500.
Instead, if Nifty trades above 4610, then it could test 4650.
If Nifty fails to sustain above 4710 in another two trading sessions, then it is likely to test 4500 in another two trading sessions.
International Indices are trading near to this year’s Top. So, soon all the Indices are likely to see a correction and by mid september, they are likely to loose 20 to 25 percent of their values.
Nifty intraday Trading Strategy
For intraday, the crucial level is 4610. 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 4720 for a target of 3900 with a stop at 4720 and trade long above 4720 for a target of 4900 with a stop at 4720.
Short term Technical View of Nifty
Nifty is likely to test 3900 initially in the downside, if it fails to move above 4720 in coming trading sessions. And if it trades above 4720, then it could test 4850 levels.
Going by the price pattern, Nifty is likely to test 3800 level by middle of september.
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 4900. 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, if the bottom forms around 2000. If the level 2000 is not held, then Nifty is likely to take more than 2 years to bottom out.
Short term trading calls of Stocks for spot market
Reliance (spot)
The level 2000 is crucial for short term. If it sustains above 2000, then it is likely to rally towards 2125.
Instead, if it fails to sustain above 2000 in coming trading sessions, then it is likely to turn weak and it could decline towards 1820 initially.
Trading Strategy for Reliance
For intraday, the crucial level is 2000. Trade long above these levels and trade short below these levels.
Positional traders can initiate longs if it sustains above 2000 for a target of 2125. Initiate shorts if it fails to sustain above 2000 for a target of 1820.
SBI (spot)
The crucial level for the short term for this scrip is 1740. If it fails to sustain above 1740, then it is likely to turn bearish and in the down side it could test 1670 in coming trading sessions.
Instead, if it sustains above 1740, then the short term trend would turn bullish and in the upper side it is likely to move towards 1840.
Trading Strategy for SBI
For Intraday, the crucial level is 1740. Trade long above this level and trade short below this level.
Positional traders can initiate shorts if it fails to sustain above 1740 for a target of 1670. And initiate longs if it sustains above 1740 for a target of 1840.
Rcom (spot)
The level 270 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 295.
If it fails to sustain above 270, then the trend would turn bearish and in the downside it is likely to decline towards 200 initially.
Trading Strategy for Rcom
For intraday, the crucial level is 266. Trade long above this level and be short below this level.
Positional traders can initiate shorts if it fails to sustain above 270 for a target of 200. Initiate longs if it sustains above 270 for a target of 295.
Icici Bank (spot)
The level 755 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 800.
Instead, if it fails to sustain above 755, the short term trend would turn bearish and in the downside it is likely to decline towards 700 initially.
Trading Strategy for Icici Bank
For intraday, the crucial level is 755 . Trade long above this level and be short below this level.
Positional traders can initiate shorts if the scrip fails to sustain above 755 for a target of 680. Initiate longs if it sustains above 755 for a target of 800.
Tata Steel (spot)
The crucial level for the scrip in the short term is 420. The trend would remain bearish for this scrip if it sustains below 420 and in the down side, it could test 370 initially.
If the scrip sustains above 420 then the scrip is likely to turn bullish in the short term and in the upper side it could rally towards 470.
Trading Strategy for Tata Steel
For intraday, the crucial level is 420. Trade long above this level and be short below this level.
Positional traders can initiate longs if the scrip sustains above 420 in the upside for a target of 470. Short if it fails to sustain above 420 for a target of 370.
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www.sathiamoorthy.com
Contact:
9381203517
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Chennai
Nifty Intraday trading levels and range
Today, if Nifty sustains below 4610, then it could test 4540 and below that level it coult test 4500.
Instead, if Nifty trades above 4610, then it could test 4650.
If Nifty fails to sustain above 4710 in another two trading sessions, then it is likely to test 4500 in another two trading sessions.
International Indices are trading near to this year’s Top. So, soon all the Indices are likely to see a correction and by mid september, they are likely to loose 20 to 25 percent of their values.
Nifty intraday Trading Strategy
For intraday, the crucial level is 4610. 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 4720 for a target of 3900 with a stop at 4720 and trade long above 4720 for a target of 4900 with a stop at 4720.
Short term Technical View of Nifty
Nifty is likely to test 3900 initially in the downside, if it fails to move above 4720 in coming trading sessions. And if it trades above 4720, then it could test 4850 levels.
Going by the price pattern, Nifty is likely to test 3800 level by middle of september.
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 4900. 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, if the bottom forms around 2000. If the level 2000 is not held, then Nifty is likely to take more than 2 years to bottom out.
Short term trading calls of Stocks for spot market
Reliance (spot)
The level 2000 is crucial for short term. If it sustains above 2000, then it is likely to rally towards 2125.
Instead, if it fails to sustain above 2000 in coming trading sessions, then it is likely to turn weak and it could decline towards 1820 initially.
Trading Strategy for Reliance
For intraday, the crucial level is 2000. Trade long above these levels and trade short below these levels.
Positional traders can initiate longs if it sustains above 2000 for a target of 2125. Initiate shorts if it fails to sustain above 2000 for a target of 1820.
SBI (spot)
The crucial level for the short term for this scrip is 1740. If it fails to sustain above 1740, then it is likely to turn bearish and in the down side it could test 1670 in coming trading sessions.
Instead, if it sustains above 1740, then the short term trend would turn bullish and in the upper side it is likely to move towards 1840.
Trading Strategy for SBI
For Intraday, the crucial level is 1740. Trade long above this level and trade short below this level.
Positional traders can initiate shorts if it fails to sustain above 1740 for a target of 1670. And initiate longs if it sustains above 1740 for a target of 1840.
Rcom (spot)
The level 270 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 295.
If it fails to sustain above 270, then the trend would turn bearish and in the downside it is likely to decline towards 200 initially.
Trading Strategy for Rcom
For intraday, the crucial level is 266. Trade long above this level and be short below this level.
Positional traders can initiate shorts if it fails to sustain above 270 for a target of 200. Initiate longs if it sustains above 270 for a target of 295.
Icici Bank (spot)
The level 755 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 800.
Instead, if it fails to sustain above 755, the short term trend would turn bearish and in the downside it is likely to decline towards 700 initially.
Trading Strategy for Icici Bank
For intraday, the crucial level is 755 . Trade long above this level and be short below this level.
Positional traders can initiate shorts if the scrip fails to sustain above 755 for a target of 680. Initiate longs if it sustains above 755 for a target of 800.
Tata Steel (spot)
The crucial level for the scrip in the short term is 420. The trend would remain bearish for this scrip if it sustains below 420 and in the down side, it could test 370 initially.
If the scrip sustains above 420 then the scrip is likely to turn bullish in the short term and in the upper side it could rally towards 470.
Trading Strategy for Tata Steel
For intraday, the crucial level is 420. Trade long above this level and be short below this level.
Positional traders can initiate longs if the scrip sustains above 420 in the upside for a target of 470. Short if it fails to sustain above 420 for a target of 370.
Visit us at:
www.sathiamoorthy.com
Contact:
9381203517
sathiamoorthyd@gmail.com
Yahoo Messenger Id - sathiamoorthyd@yahoo.com
Chennai
