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Thursday, 5 September 2013

Nifty Outlook and stocks to trade on Sep 05

We were on the short side yesterday, so we ended up with a single trade with small loss. However the loss is negligible compared to the many days of profit we had.

Nifty resistance is placed at 5500 followed by 5550. Exit all longs any days Nifty goes below 5400 in the next few days.

Intraday Calls for Sep 5

Scrip Action Above Below T1 T2 SL
ICICI Buy 823 828 833 812
Cipla Buy 422 426 432 414
TCS Buy 2080 2088 2098 2070
Tata Steel Buy 292 294 297 287
Bharti Airtel Buy 299.5 303 306 294
Reliance Buy 865 869 872 859
Larsen Sell 686 682 674 695
BHEL Sell 124.5 123.5 121 126.5
SBI Sell 1486 1476 1460 1512
Maruti Sell 1265 1255 1240 1280
DLF Sell 125 123 121 128.5






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.

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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