D Sathia Moorthy December 01, 2008 *Nifty (spot) 2755.10*
* * * * *Nifty Intraday trading levels* * * Today, if Nifty trades below 2790, then it could test 2700 and below this level, it could test 2600. Instead, if it sustains above 2790, then it could test 2850. *Nifty Trading Strategy for intraday and positional trading* * * For intraday, the crucial level is 2790. Trade short below this level and trade long above this level. Positional traders can initiate shorts if it fails to sustain above 2850 for a target of 2200 with a stop at 2925 and trade long above 2850 for a target of 3050 with a stop at 2780. * * * * * * *Short term Technical View of Nifty* The level 2900 is crucial in the short term. As long as it stays below this level, it is likely to decline to 2000 initially. The recent rally from the low of 2250 seems to be corrective and it seems it has peaked out. Now it is likely to decline below 2250 in coming trading sessions. The level 2000, is crucial for short term in the downside. If the level is held a short term bottom is possible. If not, Nifty is likely to decline further steeply. *Medium term outlook of Nifty dated on 14 October 2008* * * The medium term outlook of Nifty would remain bearish if it fails to sustain above 3100. Nifty is likely to bottom out in the medium term at 2000-2200 levels in coming months and if it fails to sustain above this level, then it is likely to decline below 2000 levels. *Long term outlook of Nifty dated on 13 October 2008* * * The long term outlook of Nifty is looking bearish and it seems that Nifty is likely to bottom out in 6 months to 1 year if the bottom forms around 2000. If the level 2000 is not held, then Nifty is likely to take more than 1 year to bottom out. *Short term trading calls of Stocks for spot market* * * * * * * *Reliance (spot)* The level 1190 is crucial for this scrip for the short term. If it sustains above 1190, then it is likely to rally towards 1250. Instead, if it fails to sustain above 1190 in coming trading sessions, then it is likely to turn weak and it could decline towards 900 initially. * * *Trading Strategy for Reliance* * * For intraday, the crucial level is 1120. Trade long above these levels and trade short below these levels. Positional traders can initiate longs if it moves above 1190 for a target of 1250. Initiate shorts if it fails to sustain above 1190 for a target of 900 initially. *SBI (spot)* The crucial level for the short term for this scrip is 1120. If it fails to sustain above 1120, then it is likely to turn bearish and in the down side it could test 900 in coming trading session. Instead, if it sustains above 1120, then the short term trend would turn bullish and in the upper side it is likely to move towards 1180. * * *Trading Strategy for SBI* * * For Intraday, the crucial level is 1120. Trade long above this level and trade short below this level. Positional traders can initiate shorts if it fails to sustain above 1120 for a target of 900. And initiate longs if it sustains above 1120 for a target of 1180. *Infosys (spot)* The level 1310 is crucial in the short term. If the scrip trades above this level, the short term would turn bullish and in the upper side it could test 1450. If it fails to sustain above 1310, then the trend would turn bearish and in the downside it is likely to decline towards 1000 initially. * * * * *Trading Strategy for Infosys* * * For intraday, the crucial level is 1250. Trade long above this level and be short below this level. Positional traders can initiate shorts if it fails to sustain above 1310 for a target of 1000. Initiate longs if it sustains above 1310 for a target of 1450. *Satyam Computers (spot)* The level 260 is crucial for this scrip in the short term. If it sustains above this level, then it is likely to see a rally from these levels towards 290. Instead, if it fails to sustain above 260, the short term trend would turn bearish and in the downside it is likely to decline towards 180 initially. * * * * *Trading Strategy for Satyam Computers* * * For intraday, the crucial level is 250. Trade long above this level and be short below this level. Positional traders can initiate shorts if the scrip fails to sustain above 260 for a target of 180. Initiate longs if it sustains above 260 for a target of 290. *TCS (spot)* The crucial level for the scrip in the short term is 590. The trend would remain bearish for this scrip if it sustains below 590 and in the down side, it could test 450 initially. If the scrip sustains above 590, then the scrip is likely to turn bullish in the short term and in the upper side it could rally towards 650. * * *Trading Strategy for TCS * For intraday, the crucial level is 550. Trade long above this level and be short below this level. Positional traders can initiate longs if the level 590 is broken in the upside for a target of 650. Short if it fails to sustain above 590 for a target of 450. www.sathiamoorthy.com --~--~---------~--~----~------------~-------~--~----~ You received this message because you are subscribed to the Google Groups "Kences1" group. To post to this group, send email to [email protected] To unsubscribe from this group, send email to [EMAIL PROTECTED] For more options, visit this group at http://groups.google.com/group/kences1?hl=en -~----------~----~----~----~------~----~------~--~---
