D Sathia Moorthy December 30, 2008 *Nifty (spot) 2922.20*
* * * * *Nifty Intraday trading levels* * * Today, if Nifty trades below 2960, then it could test 2850. Instead, if it trades above 2960, then it could test 3000. *Nifty Trading Strategy for intraday and positional trading* * * For intraday, the crucial level is 2960. Trade short below this level and trade long above this level. Positional traders can initiate shorts if it fails to sustain above 3050 for a target of 2500 with a stop at 3100 and trade long above 3050 for a target of 3150 with a stop at 3000. * * * * * * *Short term Technical View of Nifty* The short term trend is looking weak and it is likely to test 2500 and this view holds good as long as Nifty stays below 3050. The recent rally from the low of 2250 seems to be corrective and it seems it has peaked out at 3250. The present rally from 2500 seems to be a counter trend rally and it is likely to peak out below the previous top of 3250. *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 1375. 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 1280. 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 1375. 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 1300. If it fails to sustain above 1300, then it is likely to turn bearish and in the down side it could test 1000 in coming trading session. Instead, if it sustains above 1300, then the short term trend would turn bullish and in the upper side it is likely to move towards 1350. * * *Trading Strategy for SBI* * * For Intraday, the crucial level is 1250. Trade long above this level and trade short below this level. Positional traders can initiate shorts if it fails to sustain above 1300 for a target of 1000. And initiate longs if it sustains above 1300 for a target of 1350. *Infosys (spot)* The level 1200 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 1250. If it fails to sustain above 1200, 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 1135. Trade long above this level and be short below this level. Positional traders can initiate shorts if it fails to sustain above 1200 for a target of 1000. Initiate longs if it sustains above 1200 for a target of 1250. *Ranbaxy (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 295. 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 Ranbaxy* For intraday, the crucial level is 228. 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 295. *Rcom (spot)* The crucial level for the scrip in the short term is 230. The trend would remain bearish for this scrip if it sustains below 230 and in the down side, it could test 150 initially. If the scrip sustains above 230, then the scrip is likely to turn bullish in the short term and in the upper side it could rally towards 260. * * *Trading Strategy for Rcom * For intraday, the crucial level is 220. Trade long above this level and be short below this level. Positional traders can initiate longs if the level 230 is broken in the upside for a target of 260. Short if it fails to sustain above 230 for a target of 150. 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 -~----------~----~----~----~------~----~------~--~---
