Trading strategy - Reliance, Sbi, Axis Bank, Icici Bank, Tatasteel - 8 May 2014

Reliance

Today, 970 the crucial intraday level. Trade long above that level and trade short below that level in the intraday.

The level 970 is crucial for short term. Positional Traders, trade long above 970 for a target of 1000. Trade short below 970 for a target of 955.

Nifty Technical Outlook, Positional & Intraday Trading Levels, 7 May 2014

Today, 6725 is the crucial intraday level for Nifty.

If Nifty sustains below 6725, then it could test 6700 and below that level it could test 6680.
Instead, if Nifty trades above 6725, then it could test 6850.