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Tuesday 27 August 2013

Nifty Outlook and Trading Calls for 27 August

Markets will still be volatile until Thursday. Book profits as soon as you see them. Nifty is facing resistance at higher levels around 5530 levels and the tendency for traders to go long seems to be limited. Hence stocks are not able to sustain at higher levels. Expiry is further adding to volatality. Nifty will resume bullish upmove above 5560. A fall below 5480 will be negative for the entire market if that happens.



Scrip Action Above Below Target 1 Target 2 SL Remarks
BHEL Buy 125 127 129 121.5
Maruti Buy 1320 1330 1340 1300
Ranbaxy Buy 405 409 412 399
L&T Buy 750 755 758 745
Axis Bank Sell 928 912 900 946
ONGC Sell 266 263 258 270
Tata Steel Sell 273 271 269 279
DLF Sell 134 131 128 138
Bharti Airtel Sell 303 298 294 310
SBI Sell 1540 1520 1500 1565
Cipla Sell 391 389 387 396


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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