Nifty Technical Analysis
Nifty was very volatile today (Nov 12) and hence we abstained from trading for the day. Nifty has now broken the critical support level of 6080 and hence any bounce backs will be sold off. 6000 is the immediate support followed by 5980-50. Bounce back is possible from 5950.
For Intraday trading on Nov 13, please follow the below levels of Nifty:
Resistance Levels:6080, 6140
Support Levels: 6000, 5980, 5950
Positive above: 6050
Bullish momentum above:6080
Negative below: 6000
Bearish momentum below: 5980
Intraday Calls for Nov 13
Due to volatality, number of calls will be less for few days.
Tata Steel is a very risky call. Please trade according to your risk appetite, Please keep strict SLs.
Notes:
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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