Below mentioned are the intraday trading levels.

 

NSE INDEX CMP 5505.35

On charts Index has witnessed strong resistance at 5630; and has closed first time with negative bias in last 7 weeks. This pattern on charts indicates that we could witness a sharp dip whereas strong support is expected at 5407 & 5310 for near term. Best trading strategy would be sell on rise….

Intraday trading Levels Buy Above: 5538 Resistance 5558 | 5591 | 5644 Sell Below: 5473 Support 5452 | 5420 | 5367

 

LICHSGFIN CMP 259.35

Stock has strong support at 245; traders strategy would be sell on rise as stock has given negative breakout in near term.

Intraday trading Levels Buy Above:  263 Resistance 266 | 270 | 276 Sell Below: 255 Support 253 | 249 | 242

             

JINDALSTEL CMP 612.80           

Stock has strong support at 590; trade below this level would open doors for 570; therefore watch this level closely…

Intraday trading Levels Buy Above:  622 Resistance 628 | 638 | 653 Sell Below: 603 Support 597 | 588 | 573

        

JSWSTEEL CMP 811.90           

A sharp dip is expected in this stock; whereas strong support is expected at 766; traders must hunt for opportunities to buy the stock below 770 levels as medium term trend is very strong on charts and is expected to outperform.

Intraday trading Levels Buy Above:  830 Resistance 841 | 859 | 888 Sell Below: 794 Support 783 | 765 | 736

 

How to read these levels

·         Please do not trade for the first 15 minutes in the opening of the market.

·         These levels would work only on National Stock Exchange

·         In first 15 minutes of trade if both the sides target has been achieved than don’t trade that stock

·         In first 15 minutes please check if any one side of the levels is achieved and it is crossing yesterday

          close than kindly follow the below mentioned combinations

 

1.       If Sell below is achieved than expect Buy Above 2nd target

2.       If Sell Below 1st Target Is Achieved than expect Buy Above 1st target

3.       If Sell Below 2st Target Is Achieved than expect Buy Above 2nd target

4.       If Sell Below 3rd Target Is Achieved than expect Yesterday’s Close

5.       Sell Below 3rd Target is broken than Don’t Touch the stock

6.       If Buy Above Is Achieved than expect Sell Below 2nd target

7.       If Buy Above 1st Target Is Achieved than expect Sell Below 1st target

8.       If Buy Above 2st Target Is Achieved than expect Sell Below 2nd target

9.       If Buy Above 3rd Target Is Achieved than expect Yesterday’s Close

10.   Buy Above 3rd Target is broken than Don’t Touch the stock

 

Disclaimer: We & our clients do not carry any positions in the above mentioned stocks / indices, however we may trade / advise the above said for trading to our clients

 

(Ravi Nathani is a Mumbai based Technical Analyst for more details visit www.nsetoday.com)