Trading strategy and intraday tips -Reliance, Sbi, Axis Bank, Icici Bank, Tatasteel- 20 January 2011

Reliance

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

The level 990 is crucial for short term. Positional Traders, trade long above 990, for a target of 1010. Trade short below 990 for a target of 950.

Nifty Post Market Analysis, 19 January 2011

Yesterday, I mentioned 5775 as the crucial level and break of that level could take Nifty towards 5850-5900 levels. But today it could not move past that level. And also it broke the intraday crucial level of 5710. As of now, it inspires, that Nifty is likely to test 5550, if 5775 is not broken in another 2 trading sessions.

Once again the level to watch is 5775 for tomorrow. And in the downside, the break of 5650 could confirm a decline towards 5550. Right now trading in the short side is advisable as long as Nifty trades below 5775.