D Sathia Moorthy March 16, 2009 *Nifty (spot) 2719.25*
* * * * *Nifty Intraday trading levels and range* * * Today, if Nifty trades above 2720 then it could test 2750. Instead, if it sustains above 2720, then it could test 2670 and below this level, it could test 2640. *Nifty intraday Trading Strategy* * * For intraday, the crucial level is 2720. Trade short below this level and trade long above this level. *Nifty Positional Trading Strategy* Positional traders can initiate shorts if it fails to sustain above 2750 for a target of 2400 with a stop at 2800 and trade long above 2800 for a target of 2950 with a stop at 2800. * * * * * * *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 2850. *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 1300 is crucial for short term. If it sustains above 1300, then it is likely to rally towards 1340. Instead, if it fails to sustain above 1300 in coming trading sessions, then it is likely to turn weak and it could decline towards 1000 initially. * * *Trading Strategy for Reliance* * * For intraday, the crucial level is 1300. Trade long above these levels and trade short below these levels. Positional traders can initiate longs if it moves above 1300 for a target of 1340. Initiate shorts if it fails to sustain above 1300 for a target of 1000 initially. *SBI (spot)* The crucial level for the short term for this scrip is 970. If it fails to sustain above 970, then it is likely to turn bearish and in the down side it could test 750 in coming trading sessions. Instead, if it sustains above 970, then the short term trend would turn bullish and in the upper side it is likely to move towards 1020. * * *Trading Strategy for SBI* * * For Intraday, the crucial level is 970. Trade long above this level and trade short below this level. Positional traders can initiate shorts if it fails to sustain above 970 for a target of 750. And initiate longs if it sustains above 970 for a target of 1020. *Infosys (spot)* The level 1330 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 1360. If it fails to sustain above 1330, then the trend would turn bearish and in the downside it is likely to decline towards 1100 initially. * * * * *Trading Strategy for Infosys* * * For intraday, the crucial level is 1330. Trade long above this level and be short below this level. Positional traders can initiate shorts if it fails to sustain above 1330 for a target of 1000. Initiate longs if it sustains above 1330 for a target of 1360. *Ongc (spot)* The level 740 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 780. Instead, if it fails to sustain above 740, the short term trend would turn bearish and in the downside it is likely to decline towards 600 initially. * * * * *Trading Strategy for Ongc* For intraday, the crucial level is 700. Trade long above this level and be short below this level. Positional traders can initiate shorts if the scrip fails to sustain above 740 for a target of 600. Initiate longs if it sustains above 740 for a target of 780. *Icici Bank (spot)* The crucial level for the scrip in the short term is 320. The trend would remain bearish for this scrip if it sustains below 320 and in the down side, it could test 250 initially. If the scrip sustains above 320, then the scrip is likely to turn bullish in the short term and in the upper side it could rally towards 350. * * *Trading Strategy for Icici Bank * For intraday, the crucial level is 320. Trade long above this level and be short below this level. Positional traders can initiate longs if the level 320 is broken in the upside for a target of 350. Short if it fails to sustain above 320 for a target of 250. www.sathiamoorthy.com --~--~---------~--~----~------------~-------~--~----~ You received this message because you are subscribed to the Google Groups "Kences1" group. 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