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Tuesday 9 April 2013

Nifty Outlook and Stocks to trade on 09 April

Nifty was range bound and exactly between the 5535-5575 range today as in the pre-market calls.

For 9th April, 5575-80  will again act as a key resistance 5535-30  will be the support.

Above 5580, 5600 – 25 will be the resistance levels.

Support will be at 5530 followed by 5500.

Avoid intraday longs below 5530. Nifty will be positive above 5580 and bullish above 5600.

Intraday calls for 09 April

  1. BHEL – Buy above 185 for a target of 186-187 with SL at 182.
  2. Cipla – Buy above 397 for a target of 399-400  with SL at 394.
  3. Reliance – Buy above 797 for a target of 802-809 with SL at 787.
  4. Bajaj Auto – Buy above 1730 for a target of 1740 with SL at 1700.
  5. ICICI Bank – Sell below 985 for a target of 980 with SL at 992.
  6. Axis Bank – Sell below 1198 for a target of 1188 with SL at 1210.
  7. Infosys – Sell below 2825 for a target of 2815 with SL at 2845.
  8. TCS – Sell below 1475 for a target of 1470-65 with SL at 1485.
  9. L&T – Sell below 1320 for a target of 1314-1308 with SL at 1332.
  10. Tata Steel – Sell below 304.50 for a target of 303. Below 303, 300 is the target.

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.

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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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