Below mentioned are the intraday trading levels:

 

S&P CNX NIFTY CMP 4990.10

Near term trend is up on charts, best trading strategy would be buy on dips….

Intraday trading Levels Buy Above:  4999 Resistance 5005 | 5014 | 5028 Sell Below: 4981 Support 4976 | 4967 | 4952

             

JSWSTEEL CMP 621.75

Stock has given a fresh positive breakout on charts for near term. Best trading strategy would be buy at dips…

Intraday trading Levels Buy Above:  627 Resistance 629 | 634 | 642 Sell Below: 617 Support 614 | 609 | 602

             

BHUSANSTL CMP 444.60

Trend is up on charts; best trading strategy would be buy on dips…

Intraday trading Levels Buy Above:  446 Resistance 448 | 449 | 452 Sell Below: 443 Support 442 | 440 | 437

             

JINDALSTEL CMP 454.90

Stock is trading in a range (445 – 472) trade above / below would add trigger in the direction.

Intraday trading Levels Buy Above:  457 Resistance 459 | 461 | 465 Sell Below: 453 Support 451 | 449 | 445

 

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)