Technical Outlook, 04 June 2018

Nifty Technical Outlook, Positional & Intraday Trading Levels


Today, 10750 is the crucial intraday level for Nifty.

If Nifty sustains below 10750, then it could test 10680 and below that level it could test 10650.

Instead, if Nifty trades above 10750, then it could test 10820.

Short term Technical View of Nifty

For the short term, the level 10800 is crucial. If it sustains below this level, then it is likely to test 9600. Instead, if it trades above 10800, then it is likely to test 11000.

Medium term outlook of Nifty dated on 4 October 2017

The medium term outlook of Nifty would remain bullish if it sustains above 9300. Nifty is likely to move towards 12000.

Long term outlook of Nifty dated on 4 October 2017

The long term outlook of Nifty is looking bullish and this view holds good as long as Nifty sustains above 9000 and in the upper side it is likely to test 12000 in coming months.


Nifty Futures Technical Analysis - Intraday and Positional Levels

Today, 10760 is the crucial Intraday Level for Nifty Futures.

If Nifty Futures sustains below 10760, then it could test 10680 and below that level it could test 10635. 

Instead, if Nifty futures trades above 10760, then it could test 10805.

Nifty Futures intraday Trading Strategy

For intraday, the crucial level is 10760. Trade short below this level and trade long above this level.

Nifty Futures Positional Trading Strategy- 04 June 2018

Positional shorts can be initiated if it fails to sustain above 10900 for a target of 10100 with a stop at 11000 and trade long above 10900 for a target of 11300 with a stop at 10800.



Sensex - Technical Outlook and Trading Levels

Today, 35500 is the crucial intraday level for Sensex.

If Sensex sustains below 35500, then it could test 35150 and below that level it could test 34780.

Instead, if Sensex trades above 35500, then it could test 35600.

Short term Technical View of Sensex

The level 35700 is crucial for the short term. If it sustains above this level, then it could test 36300 .Instead, if it fails to trade above this level, then it could decline towards 33000 levels.

Medium term outlook of Sensex dated on 05 February 2018

The medium term outlook of Sensex would remain bullish if it sustains above 32000 and it is likely to test 38000 levels. 

Long term outlook of Sensex dated on 10 October 2015

The long term outlook of Sensex is looking bullish and it seems that Sensex is likely to rally towards 38000 levels in coming months. This view holds good as long as it sustains above 32000.

Technical View of Bank Nifty & CNX IT

Bank Nifty Intraday levels

Today, 26800 is crucial for Intraday.

If Bank Nifty sustains below 26800 then it could test 26500 and below that level it could test 26300.

Instead, if Bank Nifty trades above 26000 then it could test 27000.

Short term Technical View of Bank Nifty

The level 27000 is crucial for Bank Nifty in the short term. As long as it trades above that level, a rally towards 27500 level is likely. Instead, if it could not sustain above 27000, then it could test 25000 in the downside.

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Cnx IT Intraday levels 

Today, 13650 is the crucial intraday level.

If Cnx IT sustains above 13650, then it could test 13750.
Instead, if Cnx IT trades below 13650 then it could test 13500 and below that level it could test 13400.

Short term Technical View of Cnx IT

The level 14100 is crucial for Cnx IT in the short term. If it fails to move above this level, then it is likely to see a short term correction towards 12800 level. Instead, if it trades above 14100, then it could test 14500.



Trading strategy - Reliance, Sbi, Axis Bank, Icici Bank, Tatasteel

Reliance

Today, 940 the crucial intraday level. Trade long above that level and trade short below that level in the intraday.

The level 940 is crucial for short term. Positional long trades can be initiated above 940 for a target of 950. Trade short below 940 for a target of 915.

SBI

Today, 270 is the crucial intraday level. Trade long above that level and trade short below that level in the intraday.

The level 270 is crucial for short term. Positional long trades can be initiated above 270 for a target of 275. Trade short below 270 for a target of 255.

Axis Bank

Today, 544 is the crucial intraday level. Trade long above that level and trade short below that level in the intraday.

The level 544 is crucial for short term. Positional long trades can be initiated above 544 for a target of 550. Trade short below 544 for a target of 520.

Icici Bank

Today, 293 is the crucial intraday level. Trade long above that level and trade short below that level in the intraday.

The level 293 is crucial for short term. Positional long trades can be initiated above 293 for a target of 300. Trade short below 293 for a target of 285.

Tata Steel

Today, 575 is the crucial intraday level. Trade long above that level and trade short below that level.

The level 575 is crucial for short term. Positional long trades can be initiated above 577 for a target of 585. Trade short below 575 for a target of 560.