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Friday, 30 August 2013

Nifty Outlook and Stocks to trade on August 30

We had a wonderful day yesterday with our longs in IT. We continue to be long on IT. L&T & Reliance is moving into our buy after many days of gap.

Nifty will face strong resistance at 5460 followed by 5480. Support is placed at 5380. Please trade based on levels below and enjoy another day of profits !!

Intraday calls for today

Scrip Action Above Below T1 T2 SL
TCS Buy 1940 1955 1965 1920
HCL Tech Buy 1020 1030 1040 1000
Infosys Buy 3100 3115 3125 3090
ICICI Buy 815 820 824 805
Tata Steel Buy 285 288 291 283
Tata Motors Buy 309 311 313 302
L&T Buy 726 733 742 720
Reliance Buy 852
         854
856 847
Maruti Sell 1225 1217 1200 1235
SBI Sell 1465 1445 1420 1500
Cipla Sell 393 388 385 398
Notes
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
4 All levels above are in cash. Please trade accordinly in futures
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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