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Monday, 2 September 2013

Nifty Outlook and Stocks to trade on Sep 2

Nifty has support at 5440-50 levels, below which it is unlikely to move today. Resistance level is placed at 5525 and 5575. Nifty will be highly bullish above the level of 5525 for the day. Avoid any intraday longs if Nifty falls below 5440.

Intraday calls for Sep 2

Scrip Action Above Below T1 T2 SL
SBI Buy 1530 1540 1550 1504
HCL Tech Buy 1045 1050 1054 1031
Infosys Buy 3135 3140 3150 3100
TCS Buy 2050 2070 2080 2020
Reliance Buy 862 866 873 848
BHEL Buy 121.5 123 125 118
L&T Sell 720 715 710 726
Maruti Sell 1225 1215 1205 1246
Axis Bank Sell 820 810 800 835
Tata Steel Sell 270 267 264 276
Ranbaxy Sell 402 397 393 408
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
Trading Videos

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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