TECHNICAL OUTLOOK, 24 SEPTEMBER

Daily Newsletter


Nifty (spot) 4126.90



Nifty Intraday trading levels

Today, if Nifty trades below 4160, then it could test 4050 and below 4050, it could test 3950. Instead, if it trades above 4160, then it could test 4200.



Nifty Trading Strategy for intraday and positional trading

For intraday, the crucial level is 4160. Trade short below this level and trade long above this level.

Positional traders can initiate shorts if it fails to sustain above 4160.



Short term Technical View of Nifty

Now, the rally from the low of 3800 to 4305 is being corrected. The most likely level for Nifty to terminate its correction is around 3900-3950 level.

In the upper side, Nifty is likely to turn bullish for short term, if it trades above 4160. Until then the trend would remain bearish.




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 bull run 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 for spot market



Reliance

The level 2030 in the upper side and the level 3890 in the lower are crucial level for this scrip for the short term. If it fails to sustain above 2030, then it is likely to decline towards 1890.

Like wise, if it fails to move below 1890 in coming trading sessions, then it is likely to turn bullish and it could rally from these levels towards 2200 initially.


Trading Strategy for Reliance

For intraday, the crucial level is 2017. Trade long above this level and trade short below this level.

Positional traders can initiate shorts if it fails to sustain above 2030 for a target of 1900. Initiate longs if it fails to move below 1890 for a target 2200.



Rcom

The crucial level for the short term for this scrip is 340. If it sustains above this level, then it is likely to turn bullish and in the upper side it could test 400.

Instead, if it fails to sustain above 340, then the short term trend would turn bearish and in the downside it is likely to decline towards 300.

Trading Strategy for Rcom

For Intraday, the crucial level is 365. Trade long above this level and trade short below this level.

Positional traders can initiate longs if it fails to move below 340. And initiate shorts if it sustains below 340.



Rpl

The level 140 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 165.

If it fails to sustain above 140, then the trend would turn bearish and in the downside it is likely to decline towards 125.


Trading Strategy for Rpl

For intraday, the crucial level is 150. Trade long above this level and be short below this level.

Positional traders can initiate shorts if it fails to sustain above 150. Initiate longs if it sustains above 140 for a target of 165.





RPower

The level 150 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 to 180.

Instead, if it fails to trade above 150, the short term trend would turn bearish and in the downside it is likely to decline towards 125.



Trading Strategy for Rpower

For intraday, the crucial level is 157. Trade long above this level and be short below this level.

Positional traders can initiate shorts if the scrip fails to sustain above 150. Initiate longs if it sustains above 150.




Reliance Capital

The crucial level for the scrip in the short term is 1220 and 1030. The trend would remain bearish for this scrip if it sustains below 1220 and in the down side it could test 1120 and below this level it is likely to decline towards 1020.

If the level 1020 is violated in the short term, then the scrip is likely to make a major bottom around this level.


Trading Strategy for Reliance Capital

For intraday, the crucial level is 1220. Trade long above this level and be short below this level.

Positional traders can initiate longs if the level 1020 is held in coming trading sessions. Short if it fails to sustain above 1220 for a target of 1120 and 1020.


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TECHNICAL OUTLOOK, 23 SEPTEMBER

Daily Newsletter


Nifty (spot) 4223.05



Nifty Intraday trading levels

Today, if Nifty trades below 4245, then it could test 4130 and below 4130, it could test 4050. Instead, if it trades above 4245, then it could test 4300.



Nifty Trading Strategy for intraday and positional trading

For intraday, the crucial level is 4130. Trade short below this level and trade long above this level.

Positional traders can initiate shorts if it fails to sustain above 4130.



Short term Technical View of Nifty

Now, the level 4380 in the upper side is crucial in the short term. As long as it trades below this level, the short term trend is likely to remain bearish. If it trades above 4380 then it could test 4700.

As the market has bounced from a level very closer to its low of 3790, without violating it, chances for a strong rally from now onwards is likely if the level 4380 is broken in the upside. Until then Nifty is vulnerable for a downside.



Extreme Short term technical view of Nifty

In the extreme short term, the level 4130 is crucial.




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 bull run 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 for spot market



Abb

The level 780 is crucial in the short term for this scrip. If it sustains above this level, then it is likely to turn bullish. In the upper side, it is likely to test 870 in the short term.

Instead, if it fails to sustain above 780, then in the downside it is likely to decline towards 700.


Trading Strategy for Abb

For intraday, the crucial level is 830. Trade long above this level and trade short below this level.

Positional traders can initiate shorts if it fails to sustain above 780 for a target of 700. Initiate longs if it sustains above 780 for a target of 870.



Bank of Baroda

The crucial level for the short term for this scrip is 275. If it sustains above this level, then it is likely to turn bullish and in the upper side it could test 350.

Instead, if it fails to sustain above 275, then the short term trend would turn bearish and in the downside it is likely to decline towards 240.

Trading Strategy for Bank of Baroda

For Intraday, the crucial level is 305. Trade long above this level and trade short below this level.

Positional traders can initiate longs if it fails to move below 275. And initiate shorts if it sustains below 275.



Bata

The level 130 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 165.

If it fails to sustain above 130, then the trend would turn bearish and in the downside it is likely to decline towards 110.


Trading Strategy for Bata

For intraday, the crucial level is 148. Trade long above this level and be short below this level.

Positional traders can initiate shorts if it fails to sustain above 130. Initiate longs if it sustains above 130 for a target of 160.





Bharti

The level 780 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 to 870.

Instead, if it fails to trade above 780, the short term trend would turn bearish and in the downside it is likely to decline towards 740.



Trading Strategy for Bharti

For intraday, the crucial level is 801. Trade long above this level and be short below this level.

Positional traders can initiate shorts if the scrip fails to sustain above 780. Initiate longs if it sustains above 780.




Canara Bank

The crucial level for the scrip in the short term is 208. The trend would remain bullish for this scrip if it sustains above 208 and in the upper side it could test 240.

Instead, if it fails to sustain above 208, then it is likely to decline towards 190.


Trading Strategy for Canara Bank

For intraday, the crucial level is 222. Trade long above this level and be short below this level.

Positional traders can initiate longs if the level 208 is held for a target of 240. Short if it fails to sustain above 208 for a target of 190.


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