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Monday, 23 September 2013

Nifty Technical Analysis and Intraday calls for Sep 23

After such a fall on Friday, it is very difficult to predict the levels and calls for today. Overall, the sentiment is likely to be bearish. Attempts to recover will be faced with selling.

Immediate resistances are placed  at 6040. Any upmove above 6040 will face resistance at 6060-90 maximum. Heavy selling expected at 6060 and 6090. Support will be at 5970. Below this , market could fall by 50 points today. Please look at the level and trade carefully.


Intraday Calls for Sep 23



Notes

* Hero Motors - Sell on rise to 1990 levels. 
Correction: The last row in the list is Bajaj Auto. 
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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