Daily Newsletter
D Sathia Moorthy
Nifty (spot) 4352.30
Short term Technical View of Nifty
Now, Nifty is likely to rally towards 4700 by this month end and the next short term correction is likely to occur around 4700 level. This view holds good as long as Nifty stays above 4350.
Instead, if it fails to hold above 4350 level, then it could decline towards 4200.
Extreme Short term technical view of Nifty
In the extreme short term, the level 4350 is crucial. A long as Nifty sustains above this level, the trend would remain bullish.
Nifty Intraday trading levels
Today, if Nifty trades above 4350, then it could test 4460 and above 4460, it could test 4530. Instead, if it fails to move above 4460, then it could test 4380.
Trading Strategy for Nifty
For intraday, the crucial level is 4460. Trade long above this level and be short below this level.
Positional traders can hold their longs with a stop at 4350 for a target of 4700.
Medium term outlook of Nifty dated on 02 July 2008
The medium term outlook of Nifty has turned bullish and it is likely to move towards 5500 by this year end and this view holds good as long as Nifty stays above 3600.
Long term outlook of Nifty dated on 02 July 2008
The long term outlook of Nifty is looking bullish and it seems that Nifty is in the middle of this bull run. So, the bullrun is likely to continue for another 4 to 5 years and this view holds good as long as Nifty stays above 3600.
Short term trading calls of Stocks
Satyam Computers
The short term trend of this scrip is looking bullish and it is likely to test 460 in the short term and this view holds good as long as it sustains above 405.
On contrary, if it trades below 405, the short term trend would turn bearish and in the downside it is likely to decline towards 370.
Trading Strategy for Satyam
For intraday, the crucial level is 422. Trade long above this level and be short below this level.
Positional traders can initiate longs on declines with a stop at 405.
Sail
The short term trend of this scrip is looking bullish and it is likely to test 175 in the short term and this view holds good as long as it sustains above 135.
On contrary, if it moves below 135, then the short term trend would turn bearish and in the downside it is likely to decline towards 125.
Trading Strategy for Sail
For Intraday, the crucial level is 146. Trade long above this level and trade short below this level.
The crucial level is 135 in the short term. Initiate longs on decline with a stop at 135.
Infosys
The short term trend of this scrip is looking bullish and it is likely to test 1900 in the short term and this view holds good as long as it sustains above 1685.
On contrary, if it trades below 1685, the short term trend would turn bearish and in the downside it is likely to decline towards 1600.
Trading Strategy for Infosys
For intraday, the crucial level is 1725. Trade long above this level and be short below this level.
Positional traders can initiate longs on declines with a stop at 1685.
Ranbaxy
The short term trend of this scrip is looking bullish and it is likely to test 550 in the short term and this view holds good as long as it sustains above 420.
On contrary, if it trades below 420, the short term trend would turn bearish and in the downside it is likely to decline towards 380.
Trading Strategy for Ranbaxy
For intraday, the crucial level is 455. Trade long above this level and be short below this level.
Positional traders can initiate longs on declines with a stop at 420.
SBI
The short term trend of this scrip is looking bullish and it is likely to test 1700 in the short term and this view holds good as long as it sustains above 1480.
On contrary, if it trades below 1480, the short term trend would turn bearish and in the downside it is likely to decline towards 1400.
The scrip seems to be making a expanding pattern with 1300 and 1700 as its downside and upside range respectively. Based on Elliott Wave, it can be assumed that is making a 2nd wave of next rally.
Trading Strategy for SBI
For intraday, the crucial level is 1510. Trade long above this level and be short below this level.
Positional traders can initiate longs on declines with a stop at 1480. Initiate short if it moves below 1480, with a stop at 1500.
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