Nifty outlook and stocks to trade on 28 August

Dear Readers

As written in yesterday's pre-market analysis, investors and traders are equally unwilling to go long in the markets. Global market weakness, fall of rupee and domestic issues in India led yesterdays fall. Expecting a negative day today as well. We will continue to be looking for shorting opportunities for intraday. 

Nifty is likely to take support at 5250 levels. If this level is broken, then there could be a fall of another 100 points. Please keep watching these levels. Resistance is placed at 5400.

Intraday calls for August 28.

Scrip	Action	Above	Below	T1	T2	SL
Axis Bank	Sell		869	860	845	880
ICICI Bank	Sell		800	793	785	810
SBI	Sell		1500	1480	1460	1521
DLF	Sell		129	127	125	132
LT	Sell		697	689	675	710
Cipla	Sell		391	388	385	398
Tata Steel	Sell		271	269	266	276
ONGC	Sell		257	255	253	260.5
Maruti	Sell		1270	1250	1240	1285
Bharti Airtel	Sell		297	293	288	302
Reliance	Sell		800	794	785	810

Notes:

* Maruti - Sell on rise to 1270 levels.

1 Buy Above or Sell Below the levels given for a target T1 or T2 with SL
2 Do not enter if target is achieved already
3 Always trade in two lots and book 1 lot at T1

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.

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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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Posted in: Intraday