Below mentioned are the intraday trading levels:
 
S&P CNX NIFTY CMP 5327.30

Trend is up on charts best trading strategy would be buy on dips whereas resistance expected in near term is around 5340 & 5380.

Intraday trading Levels Buy Above:  5338 Resistance 5344 | 5355 | 5372 Sell Below: 5317 Support 5310 | 5300 | 5283

             
BPCL CMP 758.30

Trend is up on charts; best trading strategy would be buy on dips with a strict stoploss of 732 as per closing basis…

Intraday trading Levels Buy Above:  762 Resistance 764 | 767 | 772 Sell Below: 755 Support 753 | 750 | 745

             
JKCEMENT CMP 203.80

Trend is up on charts; however sharp rally would attract profit booking on rise…

Intraday trading Levels Buy Above:  209 Resistance 212 | 217 | 225 Sell Below: 199 Support 196 | 191 | 183

              
HDFCBANK CMP 584.10

Trend is up on charts; however sharp rally would attract profit booking at rise whereas strong support is expected at 545.

Intraday trading Levels Buy Above:  586 Resistance 588 | 590 | 594 Sell Below: 582 Support 580 | 578 | 575

 

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

 

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)