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Friday 27 September 2013

Nifty Technical Analysis and Intraday Calls for Sep 27

Nothing much has changed in Nifty charts based on yesterday's trading. As expected, Nifty was extremely volatile within a range. Clearly, there is resistance at higher levels. Base continues to be 5800-25 and resistance continues to be 5900-50 zone in the hourly charts.


For trading on Sep 27, Nifty will be positive above only above 5900 with a tough resistance at 5950 and 5980 levels. Going below 5860 will be quite negative for Nifty. Long unwindings will happen below this level.

Intraday Calls for Sep 27


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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