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Friday, 13 September 2013

Nifty outlook and stocks to trade on Sep 13

We wrote about the level 5880 yesterday and going below this took Nifty down heavily. Nifty today touched below our critical level of 5825, however bounced back. Going below 5825 was definitely not a good sign. However the better than expected IIP data could save the markets from another fall tomorrow.

Going forward, day trading will be very tough for the next few days due to volatality and unpredictable moves. We will try our best to filter our calls and be profitable.

The resistance mentioned yesterday 5950-80 still holds good and will be a significant one for the markets to cross. This followed by 6000-6020 will be tough resistances.

For tomorrow's trading, exit all longs if market is below 5825. Nifty below 5800 will confirm the down move. On the upside, the next resistance is 5850-70. If this crossed, then Nifty could go up to 5900-20. Profit booking will come at 5950 levels. Please book profits whenever T1 is achieved and hold on to the second lot with stoploss revised to entry price.

Sector Trend: In hourly charts - IT and Auto has given sell signals. We were expecting this weakness for past 2-3 days and hence trying to short TCS. Today we had a good sell on TCS. However HCL is not showing this weakness.


Intraday Calls for Sep 13




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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