Trading strategy - Reliance, Sbi, Axis Bank, Icici Bank, Tatasteel - 23 May 2014

Reliance

Today, 1115 the crucial intraday level. Trade long above that level and trade short below that level in the intraday.

The level 1115 is crucial for short term. Positional Traders, trade long above 1115 for a target of 1140. Trade short below 1115 for a target of 1070.

Nifty Technical Outlook, Positional & Intraday Trading Levels, 22 May 2014

Today, 7320 is the crucial intraday level for Nifty.

If Nifty sustains below 7320, then it could test 7250 and below that level it could test 7200.
Instead, if Nifty trades above 7320, then it could test 7500.