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Wednesday 20 November 2013

Nifty Technical Analysis and Intraday Calls for Nov 20

Nifty Technical Analysis

Market is likely to take a small pause or downward minor move and then move further up towards 6300. All our positional calls should be held with stop loss. Right now we are long in L&T, Tata Steel, Tata Motors, Asian Paints, Wipro. We booked 50 pointsprofits in Maruti bought at 1630. 

The level which was mentioned yesterday 6165 still remains the key level. Below this market will remain negative and a move towards 6100. 

For Intraday trading on Nov 20, please follow the below levels of Nifty:

Resistance Levels: 6225 and 6250
Support Levels: 6180, 6165

Positive above: 6225
Bullish momentum above: 6250

Negative below: 6180
Bearish momentum below: 6165

Intraday Calls for Nov 20

1. All levels are in cash. Please trade accordingly in futures
2. Buy above or sell below the levels given for a target of T1, T1 with strict SL.
3. Those who are trading in futures, please trade with 2 lots and book profits at T1.
4. Buy or Sell here does not indicate that the stock is positive or negative for the day.
   The calls are valid only if the levels are crossed.
5. Do not enter the trade if the target T1 is achieved within 15 minutes of opening. 
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. 

Please refer to our unique Intraday Trading Systems to generate your own trading calls. 

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 content 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 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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