Get Regular Updates via Email (Its free !!)


Monday 16 September 2013

Nifty Outlook and Stocks to trade on Sep 16

Next week awaits plenty of news flow and it will be extremely difficult to take money from the market unless you are on the right side of the trade. Because of this reason, I am not recommending any weekly picks this week. Those who are holding to our last week picks, should hold SBI and Bharti Airtel with SL. SBI advance tax numbers from today are not great. Bharti Airtel looks strong. Tata Steel is not giving confusing signals, hence better to exit around 300 levels.

Monday - WPI Inflation will be announced at 12 PM IST. 
Tuesday, Wednesday - FOMC Meeting 
Friday - RBI Monetary policy review

On Monday and Friday, please do not hold any open intraday positions around the time the news is announced. Markets will be extremely volatile and SL will be hit in both directions.

Sector Trend: Reality, PSU Bank and Infrastructure are strong in charts. Pharma, Metal and IT are weakening.

Nifty was very choppy on Friday Sep 13. To resume upward journey, Nifty should cross 5900-30 range convincingly. As of now, this looks to be a significant resistance. Nifty will be positive above 5880 and negative below 5850. On the lower side, 5800-20 range is acting as a strong support which we have been tracking for the past two days. If this support is broken, then Nifty will slide to 5700 easily. 

Intraday Calls for Sep 16

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 accordingly 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.     

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.

Subscribe for the posts in your favorite reader. Please click on the RSS button in the home page.
To get email updates, subscribe by clicking Subscribe via email.



Twitter Delicious Facebook Digg Stumbleupon Favorites More