Nifty Technical Analysis and Stocks to trade on Sep 19

Readers

Today will be a gap up day for Nifty. Yesterday's last hour move of Nifty was a clear indication of this up move. Technically Nifty looks very strong.

First target for today's up move is 5965. If this level crossed, then Nifty will touch 6000 which is the next resistance level. Crossing above 6020 will establish a mega bullish trend with the next resistance placed at 6050-6100.

For today, I will not be able to provide any pre-market levels, since these will not work for  gap up days. I request traders to use our trading systems to trade today.

Opening Range Breakout Trading
Intraday Trading System

Following stocks looks good for long trades.

1. Maruti - We covered Maruti in yesterdays analysis for positional buy. 1450-500 target is possible in next few sessions.
2. Axis Bank-
3. SBI
3. L&T
4. Reliance
5. SBI

Please keep the following points in mind.

1. First 15-30 minutes will be of high euphoria and do not jump in and buy. If the gap up is very high, then the highs made in 30 minutes are unlikely to be taken out for index and many stocks. Hence follow 30 minutes / 60 minutes ORB carefully to enter trades. 
2. Heavy profit booking is expected at 6090-6100 levels. 

Wish you good luck for the day. 

Posted in: Intraday