Nifty will face resistance at 5700 followed by 5725-35 and 5760. Support will be at 5665-5635-5600.
Avoid intraday longs below 5700. Nifty will be positive above 5700 and bullish above 5735.
Intraday calls for 18 April
- ICICI Bank – Buy above 1112 for a target of 1125 with SL at 1095.
- Axis Bank – Buy above 1395 for a target of 1405-15 with SL at 1280.
- SBIN – Buy above 2270 for a target of 2280-2300 with SL at 2248.
- Bajaj Auto – Buy above 1805 for a target of 1812-28 with SL at 1784.
- Reliance – Sell on rise to 782-785 levels with SL at 792 for a target of 776-72.
- L&T – Sell below 1425 for a target of 1415 with SL at 1445. Below 1408-10 levels , fresh sell for a target of 1385-90 levels.
- ONGC – Sell below 325 for a target of 323-319 with SL at 331.
- TCS – Sell below 1460 for a target of 1445, SL for short is 1495. Sustaining below 1430-25 range will take the stock to 1390-50 levels in next few days.
- Ranbaxy – Sell below 442 for a target of 438-34 with SL at 446.
- Infosys – Sell below 2270 for a target of 2250 with SL at 2285. Below 2250, the stock will touch 2220.
Please take positions only after 9:30 AM. Please do not enter into any fresh trades after 3:00 PM.
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.
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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