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Buy Bombay Dyeing on a dip: Ravi Nathani

SI Reporter/Mumbai 15 Jun 12 | 05:53 AM

Below mentioned are the intraday trading levels:

S&P CNX NIFTY CMP 5054.75
Near term index is expected to be in a range (5145 - 5015) trade above / below would add trigger in the direction.
Intraday trading Levels Buy Above:  5074 Resistance 5086 | 5106 | 5137 Sell Below: 5035 Support 5023 | 5004 | 4972
              
RELINFRA CMP 500.05
Short term trend is up whereas strong support is expected at 480 where one might accumulate the stock for short term.            
Intraday trading Levels Buy Above:  505 Resistance 508 | 512 | 520 Sell Below: 495 Support 492 | 488 | 480
              
BOMDYEING CMP 492.00
Near term trend is up on charts, best trading strategy would be buy the stock at dips as it is expected to outperform with a stoploss of 461 as per closing basis.
Intraday trading Levels Buy Above:  497 Resistance 500 | 505 | 513 Sell Below: 487 Support 484 | 479 | 471
              
HAVELLS CMP 539.90
Near term negative breakout on charts; best trading strategy would be sell on rise; support expected at 520.
Intraday trading Levels Buy Above:  545 Resistance 548 | 552 | 560 Sell Below: 535 Support 532 | 528 | 520

 
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. If 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 visitwww.nsetoday.com)

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