Technical View of Cnx IT & Bank Nifty, 24 December 2014

Bank Nifty Intraday levels and trading tips

Today, 18700 is crucial for Intraday.

If Bank Nifty sustains below 18700 then it could test 18550 and below that level it could test 18450.

Instead, if Bank Nifty trades above 18700, then it could test 19100.

Trading strategy - Reliance, Sbi, Axis Bank, Icici Bank, Tatasteel - 24 December 2014

Reliance

Today, 890 the crucial intraday level. Trade long above that level and trade short below that level in the intraday.

The level 890 is crucial for short term. Positional Traders, trade long above 890 for a target of 935. Trade short below 890 for a target of 880.

Long term Technical Outlook of JPassociates, 23 December 2014

The scrip, after hitting an all time high of 339.90 in January 2008, has been in decline for the past 6 years. Recently, it has hit a low of 23.10.


The scrip has broken the 2008 low of 32 in 2013 and 2014. When compared to Nifty, this scrip has broken 2008 lows, while Nifty hasn't broken the 2008 low. While Nifty has moved past the 2008 high, the scrip couldn't cross it's 2008 high of 339.90. In 2009, it rallied to a high of 180.


Now, it seems to be bottoming out in the short term and it is likely to rally towards 35 in coming months, if the level 21 is not broken in the downside. In case if it breaks 21, then it is likely to decline towards 15.


The longer term technical picture suggests that the scrip is very close a longer term bottom but only a move above 100 would confirm it. The scrip is likely to trade between 20 and 100 for another one or two years before breaking above 100. The medium term trend is likely to be sideways.

Nifty Technical Outlook, Positional & Intraday Trading Levels, 23 December 2014

Today, 8360 is the crucial intraday level for Nifty.

If Nifty sustains below 8360, then it could test 8320 and below that level it could test 8270.

Instead, if Nifty trades above 8360, then it could test 8440.

Nifty Futures Technical Analysis - Intraday and Positional Trading calls, 23 December 2014

Today, 8370 is the crucial Intraday Level for Nifty Futures.

If Nifty Futures sustains below 8370, then it could test 8330 and below that level it could test 8280. 

Instead, if Nifty futures trades above 8370, then it could test 8440.

Sensex - Technical Outlook and Trading Levels, 23 December 2014

Today, 27850 is the crucial intraday level for Sensex.

If Sensex sustains below 27850, then it could test 27750 and below that level it could test 27700.

Instead, if Sensex trades above 27850, then it could test 28100.

Technical View of Cnx IT & Bank Nifty, 23 December 2014

Bank Nifty Intraday levels and trading tips

Today, 18900 is crucial for Intraday.

If Bank Nifty sustains below 18900 then it could test 18800 and below that level it could test 18700.

Instead, if Bank Nifty trades above 18900, then it could test 19100.

Trading strategy - Reliance, Sbi, Axis Bank, Icici Bank, Tatasteel - 23 December 2014

Reliance

Today, 890 the crucial intraday level. Trade long above that level and trade short below that level in the intraday.

The level 890 is crucial for short term. Positional Traders, trade long above 890 for a target of 935. Trade short below 890 for a target of 880.

Nifty Technical Outlook, Positional & Intraday Trading Levels, 22 December 2014

Today, 8270 is the crucial intraday level for Nifty.

If Nifty sustains below 8270, then it could test 8200 and below that level it could test 8160.

Instead, if Nifty trades above 8270, then it could test 8350.

Nifty Futures Technical Analysis - Intraday and Positional Trading calls, 22 December 2014

Today, 8285 is the crucial Intraday Level for Nifty Futures.

If Nifty Futures sustains below 8285, then it could test 8215 and below that level it could test 8175. 

Instead, if Nifty futures trades above 8285, then it could test 8365.

Sensex - Technical Outlook and Trading Levels, 22 December 2014

Today, 27500 is the crucial intraday level for Sensex.

If Sensex sustains below 27500, then it could test 27300 and below that level it could test 27200.

Instead, if Sensex trades above 27500, then it could test 27800.

Technical View of Cnx IT & Bank Nifty, 22 December 2014

Bank Nifty Intraday levels and trading tips

Today, 18600 is crucial for Intraday.

If Bank Nifty sustains below 18600 then it could test 18400 and below that level it could test 18300.

Instead, if Bank Nifty trades above 18600, then it could test 18800.

Trading strategy - Reliance, Sbi, Axis Bank, Icici Bank, Tatasteel - 22 December 2014

Reliance

Today, 895 the crucial intraday level. Trade long above that level and trade short below that level in the intraday.

The level 895 is crucial for short term. Positional Traders, trade long above 895 for a target of 935. Trade short below 895 for a target of 885.