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Monday, 1 April 2013

Nifty Outlook and Stocks to Trade on 01 April

Dear Readers

Nifty Outlook for 01 April

We saw a short covering rally towards the end of the last trading session on Thursday. As of now Nifty is taking support at 200 DMA levels.

Nifty has an immediate resistance at 5700-25 levels. Clearing this level is important for an upmove.

For 01 April, Support levels are 5625 followed by 5600. Resistance levels are 5720-25, followed by 5745-50 levels.

Avoid any intraday longs below 5600. Nifty will be positive above 5660 and bullish above 5700 levels.

Intraday Calls for 01 April

  1. ICICI Bank – Buy above 1056 for a target of 1066 with SL at 1045.
  2. L&T – Buy above 1380 for a target of 1390 with SL at 1368.
  3. HCLTech – Buy above 807 for a target of 812-816 with SL at 798.
  4. Axis Bank – Buy above 1316 for a target of 1328 with SL at 1295.
  5. SBI – Buy above 2080 for target of 2090 with SL at 2074. Above  2090, the stock is likely to move to 2100-2125
  6. Maruti – Sell below 1270 for target of 1260. Below 1260 1245 is the target. SL for short is 1290.
  7. Hero Honda – Sell below 1540 for a target of 1530-20. SL is 1555.
  8. Reliance – Sell on rise to 775 levels with SL at 785 for targets of 764- 758.
  9. TCS – Buy above 1585 for a target of 1592 with SL at 1565.

I have provided several calls since all of them might not trigger.  Do not take more than 2 positions at a time.

Please take positions only after 9:30 AM.

Please do not trade blindly on these levels. A buy position should be supported by charts giving positive signals. A sell position should be supported by charts giving negative signals. Please see real trades in earlier posts to understand how an intraday long or short is created.

Real Trades Update
Trading Videos

Any significant news which affects individual stocks or  overall market direction will invalidate the technical analysis behind the above views. In such a situation use real time charts to trade.

All the views and contents mentioned in this blog are the personal observations of the author and is in no way a recommendation for the readers to enter into trades of stocks/futures. The author do not accept any liability/loss resulting from the use of any content from this blog. Any act of trading performed by readers should be at their own discretion and neither the author or the sources mentioned in the blog will be responsible for the outcome.

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