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Wednesday, 14 August 2013

Nifty outlook and stocks to trade on August 14.

Nifty (5699) will face resistance at 5750 followed by 5790-5800 and 5825. Support will be at 5660 levels.

Avoid intraday longs below 5660. Nifty will be positive above 5725  and bullish if stays above 5750 levels.

Intraday calls for 14 August

  1. DLF – Buy above 152 for a target of 154 with SL at 148. If sustains above 154, 157 is a likely target with SL at 151.
  2. Tata Steel – Tata steel staying above 240 is a good sign for the short term. Stock will remain positive as long as it is above 238-240 levels. With an SL of 238 go long above 244 for a target of 246. Fresh buy if sustain above 246 for a target of 250 with SL at 243.
  3. Infosys – We had a successful trade in Infosys yesterday, stock is bullish. Buy above 3100 for a target of 3125-50 with SL at 3060.
  4. Tata Motors – Can move up to 300-310 in next few trading sessions. Go long for intraday above 294 for a target of 298-300 with SL at 290.
  5. Cipla – will make a good up move if sustains above 430 which is medium term resistance. Go long above 430 for a target of 434-436 with SL at 421.
  6. Bajaj Auto – We had a successful trade in Bajaj Auto yesterday. Go long for intraday above 1870 for a target of 1880-90 and and 1910-20 with SL at 1840
  7. L&T – Sell below 798 for a target of 794 with SL at 802. Fresh sell below 785 for a target of 780. Below 780 could see 775-760 any day.
  8. SBI – Sell below 1610 for a target of 1600 with SL at 1621. (Please refrain from buying banking stocks, since they could fall. Only Axis Bank is strong, SBI and ICICI could fall)
  9. ONGC- Sell below 274 for a target of 271 with SL at 279. If sustains below 270, next target is 266 with SL at 274.50.
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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Hey, thanks for the information. your posts are informative and useful.
GlaxoSmithKline Pharmaceuticals Ltd


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