Markets in the range of 5478-5350: Ravi Nathani

NSE INDEX CMP 5408.90
Range Bound Market (5478 – 5350) strategy to trade would be buy near supports and sell near resistance. 
Intraday trading Levels Buy Above: 5417 Resistance 5430 | 5443 | 5464 Sell Below: 5401 Support 5388 | 5375 | 5350

AMARAJABAT CMP 191.05
On charts yesterday’s high of 209 would play a very strong resistance for the stock, strategy to trade would be sell at everyrise with a stoploss of 209.
Intraday trading Levels Buy Above: 196 Resistance 199 | 204 | 213 Sell Below: 186 Support 183 | 178 | 169

IPCALAB CMP 271.25
Stock had a sharp dip since last 6 trading sessions, strong support at 264; close below this level would bring the stock to 251. Strategy to trade would be

buy at dips or CMP with a stoploss of 264.
Intraday trading Levels Buy Above: 276 Resistance 279 | 283 | 290 Sell Below: 267 Support 264 | 260 | 252

ATLASCYCLE CMP 245.95
Stock attracts huge selling pressure above 250; since last 4 trading session 3 time it has traded above 250 and has attracted huge selling; however stock has

a strong resistance of 265 and chances are that it might touch the level and again attract selling. Strategy to trade would be buy at dips with a stoploss of

intraday supports and be alert when it trades above 250.
Intraday trading Levels Buy Above: 252 Resistance 256 | 262 | 271 Sell Below: 240 Support 236 | 230 | 221

Profit Booking Levels for traders category
1st Level (Support or Resistance) – Safe trader
2nd Level (Support or Resistance) – Risky trader
3rd Level (Support or Resistance) – High risk / High returns

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

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