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Friday, 6 September 2013

Nifty Outlook and Stocks to trade on Sep 06

Nifty will face resistance at 5630 and 5670. Support is placed at 5550 level

Intraday calls for Sep 06.


Scrip Action Above Below T1 T2 SL
L&T* 733 737 745 724
ONGC 272 274 276 270
Maruti 1315 1325 1335 1299
Hero Motors 1960 1978 1990 1935
DLF 141.5 143 144 136
SBI 1650 1660 1670 1620
Tata Steel 290 287 285 293
Infosys 2995 2980 2970 3021
HCL Tech 1011 1006 1000 1026
Cipla 417 415 412 421
Bharti Airtel** 299 297 295 281
TCS 1980 1970 1960 2020

*L&T 738-40 is a very high resistance for L&T, once crossed and sustained the stock can go to 760. Please note for positional trading.
**Bharti Airtel Fresh sell with SL at 298 if the stock moves below 294 for a target of 290.


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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