Get Regular Updates via Email (Its free !!)


Wednesday, 9 October 2013

Nifty Technical Analysis and Intraday Calls for Oct 09

Nifty Technical Analysis

Nifty was unable to cross the zone 5950-70 and sustain above that in today's trade. We wrote about this zone yesterday. 5980 has to be sustained followed by 6020 for a good uptrend. Today's move confirms that there is not enough momentum to take the markets above this level. Results season which starts with Infosys on Friday will decide the markets trend. 

For the trading on Sep 10, Nifty will be negative below 5940. Below 5900, markets will be very bearish and a fall till next support level of 5880-70 and 5825 is possible. Closing below 5820-00 will result in short term bearishness. 

None of the pre-market calls for yesterday triggered, so no profit no loss. So I will not be posting a seperate review. If the targets are met on opening , please do not enter the trade. 

Intraday Calls for Oct 09

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.

Subscribe for the posts in your favorite reader. Please click on the RSS button in the home page.



Twitter Delicious Facebook Digg Stumbleupon Favorites More