Trading strategy and intraday tips -Reliance, Sbi, Axis Bank, Icici Bank, Tatasteel- 06 September 2010

Reliance

Today, 935 is the crucial intraday level. Trade long above that level and trade short below that level.

The level 960 is crucial for short term. Positional Traders, trade long above 960, for a target of 1000. Trade short below 960 for a target of 900.

SBI

Today, 2810 is the crucial intraday level. Trade long above that level and trade short below that level.

The level 2810 is crucial for short term. Positional Traders, trade long above 2810, for a target of 2845. Trade short below 2810 for a target of 2670.

Axis Bank

Today, 1385 is the crucial intraday level. Trade long above that level and trade short below that level.

The level 1385 is crucial for short term. Positional Traders, trade long above 1385, for a target of 1410. Trade short below 1385 for a target of 1345.

Icici Bank

Today, 990 is the crucial intraday level. Trade long above that level and trade short below that level.

The level 990 is crucial for short term. Positional Traders, trade long above 990, for a target of 1020. Trade short below 990 for a target of 940.

Tata Steel

Today, 537 is the crucial intraday level. Trade long above that level and trade short below that level.

The level 530 is crucial for short term. Positional Traders, trade long above 530, for a target of 555. Trade short below 530 for a target of 490.

Nifty Technical Outlook, Positional & Intraday Trading Levels, calls, and tips, 03 September 2010

Today, 5475 is the crucial intraday level for Nifty.

If Nifty sustains below 5475, then it could test 5455 and below that level it could test 5400.

Instead, if Nifty trades above 5475, then it could test 5525.

Short term Technical View of Nifty

For the short term, the level 5550 is crucial. If it sustains below this level, then it is likely to test 5100. Instead, if it trades above 5550, then it is likely to test 5650. 

Medium term outlook of Nifty dated on 30 July 2010

The medium term outlook of Nifty would remain bearish if it fails to sustain above 5550. Nifty is likely to see a medium correction from 5550 and it is likely to be in correction mode for another 1 year.

Long term outlook of Nifty dated on 30 July 2010

The long term outlook of Nifty is looking bearish and the present bull market from the low of 2003 is likely to terminate in 2010 around 5550 and it is likely to followed by 2 to 3 years bear market.

Reality, Power, and Infrastructure sector is likely to underperform the overall market. FMCG, Pharma, and Banking sectors are likely to perform better in coming years.