D Sathia Moorthy January 28, 2009 *Nifty (spot) 2771.35*
* * * * *Nifty Intraday trading levels* * * Today, if Nifty trades above 2745 then it could test 2810 and above this level, it could test 2850. Instead, if it trades below 2745, then it could test 2700 and below this level it could test 2650. *Nifty Trading Strategy for intraday and positional trading* * * For intraday, the crucial level is 2745. Trade short below this level and trade long above this level. Positional traders can initiate shorts if it fails to sustain above 2880 for a target of 2500 with a stop at 2950 and trade long above 2950 for a target of 3050 with a stop at 2880. * * * * * * *Short term Technical View of Nifty* The short term trend is looking weak and it is likely to test 2500 initially and then it could decline towards 2000 and this view holds good as long as Nifty stays below 2950. *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 1180 is crucial for short term. If it sustains above 1180, then it is likely to rally towards 1260. Instead, if it fails to sustain above 1180 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 1210. Trade long above these levels and trade short below these levels. Positional traders can initiate longs if it moves above 1180 for a target of 1260. Initiate shorts if it fails to sustain above 1180 for a target of 900 initially. *SBI (spot)* The crucial level for the short term for this scrip is 1070. If it fails to sustain above 1070, then it is likely to turn bearish and in the down side it could test 900 in coming trading sessions. Instead, if it sustains above 1070, then the short term trend would turn bullish and in the upper side it is likely to move towards 1140. * * *Trading Strategy for SBI* * * For Intraday, the crucial level is 1100. Trade long above this level and trade short below this level. Positional traders can initiate shorts if it fails to sustain above 1070 for a target of 900. And initiate longs if it sustains above 1070 for a target of 1140. *Infosys (spot)* The level 1250 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 1320. If it fails to sustain above 1250, 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 1235. Trade long above this level and be short below this level. Positional traders can initiate shorts if it fails to sustain above 1250 for a target of 1000. Initiate longs if it sustains above 1250 for a target of 1320. *Tata Steel (spot)* The level 183 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 205. Instead, if it fails to sustain above 183, the short term trend would turn bearish and in the downside it is likely to decline towards 130 initially. * * * * *Trading Strategy for Tata Steel* For intraday, the crucial level is 176. Trade long above this level and be short below this level. Positional traders can initiate shorts if the scrip fails to sustain above 183 for a target of 130. Initiate longs if it sustains above 183 for a target of 205. *Tata Motors (spot)* The crucial level for the scrip in the short term is 145. The trend would remain bearish for this scrip if it sustains below 145 and in the down side, it could test 100 initially. If the scrip sustains above 145, then the scrip is likely to turn bullish in the short term and in the upper side it could rally towards 160. * * *Trading Strategy for Tata Motors * For intraday, the crucial level is 139. Trade long above this level and be short below this level. Positional traders can initiate longs if the level 145 is broken in the upside for a target of 160. Short if it fails to sustain above 145 for a target of 100. 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 -~----------~----~----~----~------~----~------~--~---
