Trading strategy and intraday tips -Reliance, Sbi, Axis Bank, Icici Bank, Tatasteel- 19 January 2011

Reliance

Today, 1010 is the crucial intraday level. Trade long above that level and trade short below that level in the intraday.

The level 1010 is crucial for short term. Positional Traders, trade long above 1010, for a target of 1040. Trade short below 1010 for a target of 950.

Nifty Post Market review, 18 January 2011

Today Nifty took support around 5670 and bounced back a litttle towards 5775. Since Nifty has closed above the intraday crucial level and 5700, the next crucial level to watch is 5775. If, tomorrow this level is broken in the upside, Nifty is likely to test 5820-5900 range.

Now Nifty has to move above 5900 in the upside for a short term rally. Failure of Nifty to move above this level would push the market towards 5550 levels. So for tomorrow the level to watch is 5775.