Nifty Futures Technical Analysis - Intraday and Positional Trading calls, 29 July 2010

Today, 5410 is the crucial Intraday Level for Nifty Futures.

If Nifty Futures sustains below 5410, then it could test 5360 and below that level it could test 5320. 
Instead, if Nifty futures trades above 5410, then it could test 5460 and above that level it could test 5530.

Nifty Futures intraday Trading Strategy

For intraday, the crucial level is 5410. Trade short below this level and trade long above this level.

Nifty Futures Positional Trading Strategy

Positional traders can initiate shorts if it fails to sustain above 5300 for a target of 4950 with a stop at 4950 and trade long above 5300 for a target of 5550 with a stop at 5300.

Sensex- Technical Outlook and Trading Levels, 29 July 2010

Today, 18000 is the crucial intraday level for Sensex.

If Sensex sustains below 18000,  then it could test 17850 and below that level it could test 17790.
Instead, if Sensex trades above 18000, then it could test 18150 and above 18150 it could test 18300.

Short term Technical View of Sensex

The level 17300 is crucial for the short term. If it sustains above this level, then it could test 18000. Instead, if it fails to trade above this level, then it could decline towards 16500 levels.

Medium term outlook of Sensex dated on 14 December 2009

The medium term outlook of Sensex would remain bearish if it fails to sustain above 18000. Sensex is likely to bottom out in the medium term at 7000 levels in coming months.

Long term outlook of Sensex dated on 14 December 2009

The long term outlook of Sensex is looking bearish and it seems that Sensex is likely to bottom out in 3 years.