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Wednesday, 4 September 2013

Nifty Outlook and Stocks to trade on Sep 4

Hi Readers

We had a profitable day yesterday with 6/6 calls success. For Sep 4rd, markets is likely to be volatile with selling coming in at rise.

Nifty is likely to face resistance at 5420 and 5450. Support is placed at 5250. Better not to get into any long trades today.

Intraday calls for Sep 4

Scrip Action Above Below T1 T2 SL
Tata Steel Sell 279 277 274 284
DLF Sell 126 124 122 130.5
Reliance Sell 828 823 815 835
Bajaj Auto Sell 1818 1808 1790 1850
SBI Sell 1450 1440 1420 1480
L&T Sell 690 684 678 700
Cipla Sell 405 400 396 410
Ranbaxy Sell 405 400 396 410
Tata Motors Sell 295 293 291 300
Axis Bank Sell 770 765 761 778
BHEL Sell 118 117 116 121

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.

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