Trading strategy - Reliance, Sbi, Axis Bank, Icici Bank, Tatasteel - 17 November 2014

Reliance

Today, 960 the crucial intraday level. Trade long above that level and trade short below that level in the intraday.

The level 960 is crucial for short term. Positional Traders, trade long above 960 for a target of 1020. Trade short below 960 for a target of 955.

Nifty is in long term Bull Market - 16 November 2014

Post-2008 correction, was initially looked like a final rally of the previous bull market and was expected to terminate around 2008 highs. But it rallied will beyond this level and it has started consuming more time. This indicates that nifty is in Bull market since 2008 low and at present it is in contracting running triangle which is likely to be followed by an expansion in the upside.


The chart is presented below.


                                                     Click the chart to enlarge it