The high 7922.70 formed by Nifty spot today could be the short term top. Positional traders can short Nifty futures at current price ( 7890 ) with a stop at 7930. The downside target is 7400 in one or two weeks.
Instead, if Nifty Futures trades above 7930, then it could test 7980 level.
Sell ICICI Bank Futures at 1545 with stop at 1560 for a target of 1480.
Wednesday, August 20, 2014
Nifty Technical Outlook, Positional & Intraday Trading Levels, 20 August 2014
Today, 7915 is the crucial intraday level for Nifty.
If Nifty sustains below 7915, then it could test 7860 and below that level it could test 7810.
Instead, if Nifty trades above 7915, then it could test 7940.
Instead, if Nifty trades above 7915, then it could test 7940.
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