Nifty Technical Analysis
Nifty should cross 7960 to remain positive on Oct 7. 8000 is the next resistance, if broken next target will be 8040. Support is at 7900, below which heavy profit booking could happen.
For Intraday trading on Oct 7, please follow the below levels of Nifty:
Resistance Levels: 7980-8000
Support Levels: 7920-7900
Positive above: 7960
Bullish momentum above:8000
Negative below: 7920
Bearish momentum below: 7900
| Scrip | Action | Above | Below | T1 | T2 | SL |
| Axis Bank | Buy | 382 | 383 | 384 | 379 | |
| Infy | Buy | 3868 | 3880 | 3890 | 3845 | |
| Bank Baroda | Buy | 903 | 906 | 908 | 898 | |
| Ranbaxy | Buy | 641 | 643 | 645 | 637 | |
| Hero Motors | Buy | 2900 | 2910 | 2920 | 2880 | |
| ICICI Bank | Sell | 1417 | 1412 | 1408 | 1428 | |
| Reliance | Sell | 920 | 915 | 910 | 928 | |
| Tata Steel | Sell | 445 | 444 | 443 | 448 | |
| BHEL | Sell | 198 | 197 | 196 | 200 | |
| DLF | Sell | 149 | 148 | 147 | 151 |
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.
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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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1 comments:
Hey, thanks for the information. your posts are informative and useful.
Raymond
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