Nifty did a gap up yesterday, despite this , there were several Opening Range Breakout trades possible on L&T, Tata Steel, ONGC etc. Nifty has crossed the crucial resistance of 6100 which is a good sign. This will be the next base for up move. 6300 is a technically possible target in the next few days.
For today's trading, Nifty should cross 6150-60 convincingly for the next target of 6200. Support is placed at 6090.
We have another difficult day today due to RBI Monetary policy and volatality. Do not trade in the banking sector till the news is out and there is stability. Else stop losses will be hit on both sides. Also do not react to sudden upmove or downmove in stocks and enter trades either on the buy or sell side thinking that you are about to miss a big move. Markets will give enough opportunities to all to make money.
As I have written many times before, please learn technical analysis thoroughly rather than just following my calls. All readers should be able to follow my blog and trade on their own and make money.
Intraday calls for Sep 20
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.
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