Nifty Futures Technical Analysis - Intraday and Positional Trading calls, 16 September 2010

Today, 5870 is the crucial Intraday Level for Nifty Futures.

If Nifty Futures sustains below 5870, then it could test 5825 and below that level it could test 5770. 
Instead, if Nifty futures trades above 5870, then it could test 5950.

Nifty Futures intraday Trading Strategy

For intraday, the crucial level is 5870. Trade short below this level and trade long above this level.

Nifty Futures Positional Trading Strategy

Positional traders can initiate shorts if it fails to sustain above 5550 for a target of 5100 with a stop at 5550 and trade long above 5550 for a target of 6000 with a stop at 5550.

Sensex- Technical Outlook and Trading Levels, 16 September 2010

Today, 19430 is the crucial intraday level for Sensex.

If Sensex sustains below 19430,  then it could test 19300 and below that level it could test 19150.
Instead, if Sensex trades above 19430, then it could test 19700.

Short term Technical View of Sensex

The level 18500 is crucial for the short term. If it sustains above this level, then it could test 20000. Instead, if it fails to trade above this level, then it could decline towards 17800 levels.

Medium term outlook of Sensex dated on 16 September 2010

The medium term outlook of Sensex would remain bullish if it sustains above 18500. Sensex is likely to top out in the medium term around 21000 levels in coming months.

Long term outlook of Sensex dated on 16 September 2010

The long term outlook of Sensex is looking bearish and it seems that Sensex is likely to top out around 21000 levels and it is likely to see a long term correction from that levels for atleast 3 years.