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Tuesday 24 September 2013

Nifty Technical Analysis and Intraday calls for Sep 24

Nifty continued its down move yesterday 5880-70 range where it got a support. Today this will be the support followed by 5850-40 range where Nifty has a significant support. If this support is broken next target is 5800. Breaking 5800 will open up 5700 in next few days.

Intraday calls for Sep 24

Scrip Action Above Below T1 T2 SL
Maruti Buy 1415 1420 1425 1398
Hero Motors Buy 2015 2024 2035 1998
Tata Steel Buy 296.5 298 300 293.5
Reliance Buy 877 882 886 872
Bharti Airtel Sell 333.5 332 330 336.5
Cipla Sell 421 419 417 424
SBIN Sell 1625 1615 1605 1645
ONGC Sell 274 272 270 280.5
Tata Motors Sell 330 328 326 334.5

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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