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

Reliance

Today, 1120 is the crucial intraday level. Trade long above that level and trade short below that level. The level 1120 is crucial for short term. Positional Traders, trade long above 1120, for a target of 1160. Trade short below 1120 for a target of 1050.

Short Term Outlook of Bank Nifty, 15 january 2010

Technical Outlook and Forecast of Bank Nifty

Since October 2009, Bank Nifty is forming a flat contracting triangle. In the upper side, the highs are marked by lower tops. In the lower side, the bottoms are marked by lower bottoms. It gives an indication that it might break in the lower side. The size and shape of the pattern indicates, the Index could move significantly in the direction of the breakout.