Trading strategy-Reliance, Sbi, Axis Bank, Icici Bank, Tatasteel- 23 June 2010

Reliance

Today, 1050 is the crucial intraday level. Trade long above that level and trade short below that level.

The level 1050 is crucial for short term. Positional Traders, trade long above 1050, for a target of 1140. Trade short below 1050 for a target of 975.

Nifty - Technical Outlook and Intraday Trading Levels, 22 June 2010

Today, 5340 is the crucial intraday level for Nifty.

If Nifty sustains below 5340, then it could test 5300 and below that level it could test 5250.
Instead, if Nifty trades above 5340, then it could test 5400.

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 4730. Instead, if it trades above 4950, then it is likely to test 5450.