Trading strategy and intraday tips -Reliance, Sbi, Axis Bank, Icici Bank, Tatasteel- 30 July 2010

Reliance

Today, 1030 is the crucial intraday level. Trade long above that level and trade short below that level.

The level 1030 is crucial for short term. Positional Traders, trade long above 1030, for a target of 1055. Trade short below 1030 for a target of 970.

SBI

Today, 2480 is the crucial intraday level. Trade long above that level and trade short below that level.

The level 2480 is crucial for short term. Positional Traders, trade long above 2480, for a target of 2520. Trade short below 2480 for a target of 2390.

Axis Bank

Today, 1370 is the crucial intraday level. Trade long above that level and trade short below that level.

The level 1370 is crucial for short term. Positional Traders, trade long above 1370, for a target of 1420. Trade short below 1370 for a target of 1290.

Icici Bank

Today, 940 is the crucial intraday level. Trade long above that level and trade short below that level.

The level 940 is crucial for short term. Positional Traders, trade long above 940, for a target of 970. Trade short below 940 for a target of 910.

Tata Steel

Today, 520 is the crucial intraday level. Trade long above that level and trade short below that level.

The level 520 is crucial for short term. Positional Traders, trade long above 520, for a target of 555. Trade short below 520 for a target of 490.

Nifty Technical Outlook, Positional & Intraday Trading Levels, calls, and tips, 29 July 2010

Today, 5410 is the crucial intraday level for Nifty.

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

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 5550. 

Medium term outlook of Nifty dated on 20 May 2009

The medium term outlook of Nifty would remain bearish if it fails to sustain above 5550. Nifty is likely to bottom out in the medium term at 2000-2200 levels in coming months and if it fails to sustain above this level, then it is likely to decline below 2000 levels.

Long term outlook of Nifty dated on 30 June 2009

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