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Wednesday, 28 August 2013

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.

Real Trades Update
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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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