Trading strategy and intraday tips -Reliance, Sbi, Axis Bank, Icici Bank, Tatasteel- 11 January 2011

Reliance

Today, 1040 is the crucial intraday level. Trade long above that level and trade short below that level.

The level 1040 is crucial for short term. Positional Traders, trade long above 1040, for a target of 1095. Trade short below 1040 for a target of 980.

Nifty Short Term Technical View, 10 January 2011

Nifty has breached the 5900 in the downside and this level is going to play a crucial part for the short term. If Nifty sustains below 5900 for another 3 trading, then the short term trend of the market would remain bearish till it tests 5550.


On the other hand, any bounce has to come from this levels. The first indication of bullishness would be the crossover of 5950 in coming trading sessions. Otherwise, as of now, the trend remains weak for the short term.