Technical View and Trading calls of Cnx IT & Bank Nifty, 4 August 2010

Bank Nifty Intraday levels and trading tips

Today, 10550 is crucial for Intraday.

If Bank Nifty sustains below 10550, then it could test 10400, and below that level it could test 10250.
Instead, if Bank Nifty trades above 10550, then it could test 10800.

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, 6100 is the crucial intraday level.

If Cnx IT sustains above 6100, then it could test 6140 and above that level it could test 6190. 
Instead, if Cnx IT trades below 6100, then it could test 6030 and below that level it could test 5980.

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.

Trading strategy and intraday tips -Reliance, Sbi, Axis Bank, Icici Bank, Tatasteel- 4 August 2010

Reliance

Today, 1030 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 1090. Trade short below 1050 for a target of 970.

SBI

Today, 2580 is the crucial intraday level. Trade long above that level and trade short below that level.

The level 2580 is crucial for short term. Positional Traders, trade long above 2580, for a target of 2635. Trade short below 2580 for a target of 2525.

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

The level 930 is crucial for short term. Positional Traders, trade long above 930, for a target of 970. Trade short below 930 for a target of 875.

Tata Steel

Today, 525 is the crucial intraday level. Trade long above that level and trade short below that level.

The level 525 is crucial for short term. Positional Traders, trade long above 525, for a target of 555. Trade short below 525 for a target of 490.