Sensex- Technical Outlook and Trading Levels, 3 August 2010

Today, 18050 is the crucial intraday level for Sensex.

If Sensex sustains below 18050,  then it could test 17900 and below that level it could test 17800.
Instead, if Sensex trades above 18050, then it could test 18220 and above 18220 it could test 18300.

Short term Technical View of Sensex

The level 18250 is crucial for the short term. If it sustains above this level, then it could test 18400. Instead, if it fails to trade above this level, then it could decline towards 16500 levels.

Medium term outlook of Sensex dated on 2 August 2010

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 13300 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.

Technical View and Trading calls of Cnx IT & Bank Nifty, 3 August 2010

Bank Nifty Intraday levels and trading tips

Today, 10400 is crucial for Intraday.

If Bank Nifty sustains below 10400, then it could test 10270, and below that level it could test 10130.
Instead, if Bank Nifty trades above 10400, then it could test 10550.

Short term Technical View of Bank Nifty

The level 8825 is crucial for Bank Nifty in the short term. As long as it trades below that level, a decline to 8000 level is likely. Instead, if it trades above 8825, then it could test 10800.

Cnx IT Intraday levels and and trading tips

Today, 6130 is the crucial intraday level.

If Cnx IT sustains above 6130, then it could test 6190 and above that level it could test 6230. 
Instead, if Cnx IT trades below 6130, then it could test 6090 and below that level it could test 6030.

Short term Technical View of Cnx IT

The level 6230 is crucial for Cnx IT is the short term. If it fails to move above this level, then it is likely to see a short term correction towards 5650 level. Instead, if it trades above 6230, then it could test 6500.