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Tuesday, 13 August 2013

Nifty outlook and stocks to trade on August 13

Nifty will face resistance at 5650 followed by 5690-5700 and 5725. Support will be at 5600 levels.
Avoid intraday longs below 5600. Nifty will be positive above 5620 and bullish above 5650 levels.

Intraday calls for 13 August

  1. ONGC – Buy above 281 for a target of 283 with SL at 277.
  2. Infosys – Buy above 3030 for a target of 3050 with SL at 2999.
  3. LT – Buy above 810 for a target of 815 with L at 806.
  4. Bajaj Auto – Buy above 1825 for a target of 1840 with SL at  1800.
  5. ICICI – Sell below 861 for a target of 856 with SL at 874.
  6. Axis – Sell below 1070 for a target of 1060 with SL at 1081
  7. SBI – Stock will be negative as long as it is below 1610-20 levels. SL for shorts will be 1625. Downside target of 1575 is possible.
  8. Reliance – Sell below 840 for a target of 834 with SL at 847.
  9. Maruti – Sell below 1385 for a target of 1375 with SL at 1390. Fresh sell below 1365 for a target of 1350 with SL at 1390
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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