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Buy Century Textiles on a dip: Ravi Nathani

Ravi Nathani/Mumbai 29 Jun 12 | 05:58 AM

Below mentioned are the intraday trading levels:

 
S&P CNX NIFTY CMP 5149.15

Index arrested between (5160 – 5093) trade above / below would add trigger in the direction….

Intraday trading Levels Buy Above:  5157 Resistance 5162 | 5170 | 5183 Sell Below: 5141 Support 5136 | 5128 | 5115

             
JSWSTEEL CMP 669.25

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

Intraday trading Levels Buy Above:  673 Resistance 675 | 679 | 684 Sell Below: 666 Support 663 | 660 | 654

             
RELINFRA CMP 535.70

Stock has strong support at 527 trade below this level would open doors for 491. Best bet would be sell once stock trades below 527.

Intraday trading Levels Buy Above:  540 Resistance 543 | 548 | 555 Sell Below: 531 Support 528 | 524 | 516

              
CENTURYTEX CMP 299.80

Near term trend is up on charts; best trading strategy would be buy on dips as stock is expected to rally whereas resistance / target expected is at 312.

Intraday trading Levels Buy Above:  302 Resistance 304 | 307 | 311 Sell Below: 297 Support 296 | 293 | 289

 

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)

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