Trading strategy-Reliance, Sbi, Axis Bank, Icici Bank, Tatasteel- 6 May

Reliance

Today, 1040 is the crucial intraday level. Trade long above that level and trade short below that level.

The level 1040 is crucial for short term. Positional Traders, trade long above 1040, for a target of 1140. Trade short below 1040 for a target of 980.

Nifty - Technical Outlook and Intraday Trading Levels, 5 May

Today, 5040 is the crucial intraday level for Nifty.

If Nifty sustains below 5040, then it could test 4950.
Instead, if Nifty trades above 5040, then it could test 5090 and above that level it could test 5140.

Short term Technical View of Nifty

For the short term, the level 4950 is crucial. If it sustains below this level, then it is likely to test 4600. Instead, if it trades above 4950, then it is likely to test 5200.