 "Near-term trading strategies for large-cap stocks")
S&P CNX NIFTY CMP 7688.25
Near Term: Nifty is a buy on dips with a target expected 7800.00. Best trading strategy would be buy on dips.
Intraday trading Levels Buy Above: 7731 Resistance 7758 | 7800 | 7870
Weekly Levels 7753 Resistance 7814 | 7913 | 8072
Sell Below: 7557 Support 7496 | 7397 | 7238
CIPLA CMP Rs 650.00
Near Term: Buy on dips as stock is expected to bounce with a target expected Rs 677.00
Intraday trading Levels Buy Above: Rs 657 Resistance Rs 662 | Rs 669 | Rs 681
Sell Below: Rs 643 Support Rs 638 | 631 | 619
Weekly Levels Rs 660 Resistance 666 | 677 | 694
Sell Below: Rs 639 Support 633 | 622 | 605
BPCL CMP Rs 821.25
Near Term: Strong support is expected around Rs 810, whereas trend changing level would be only above Rs 860.
Intraday trading Levels Buy Above: Rs 828 Resistance 832 | 838 | 849
Sell Below: Rs 815 Support 811 | 804 | 794
Weekly Levels Rs 866 Resistance 876 | 892 | 918
Sell Below: Rs 835 Support 825 | 809 | 784
SUN PHARMA CMP Rs 844.60
Near Term: Buy on dips as stock is expected to bounce whereas target expected is Rs 882.00
Intraday trading Levels Buy Above: Rs 853 Resistance 858 | 866 | 880
Sell Below: Rs 836 Support 831 | 823 | 810
Weekly Levels Rs 873 Resistance 882 | 897 | 922
Sell Below: Rs 843 Support 833 | 818 | 793
HDFC BANK CMP Rs 1004.05
Near Term: Buy on dips with a target expected Rs 1025.00.
Intraday trading Levels Buy Above: Rs 1012 Resistance 1017 | 1024 | 1037
Sell Below: Rs 996 Support 991 | 984 | 971
Weekly Levels Rs 1009 Resistance 1016 | 1029 | 1049
Sell Below: Rs 984 Support 976 | 963 | 943
M&M CMP Rs 1146
Near Term: Buy on dips with a target expected Rs 1200.00
Intraday trading Levels Buy Above: 1160 Resistance Rs 1169 | 1183 | 1205
Sell Below: Rs 1132 Support 1123 | 1109 | 1087
Weekly Levels Rs 1146 Resistance 1168 | 1203 | 1260
Sell Below: Rs 1075 Support 1053 | 1018 | 961
Disclaimer: I do have investment exposure in the above mentioned stocks / Index Fut/Options.
Ravi Nathani is a technical analyst at nsetoday.com
Near Term: Nifty is a buy on dips with a target expected 7800.00. Best trading strategy would be buy on dips.
Intraday trading Levels Buy Above: 7731 Resistance 7758 | 7800 | 7870
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Sell Below: 7645 Support 7619 | 7576 | 7507
Weekly Levels 7753 Resistance 7814 | 7913 | 8072
Sell Below: 7557 Support 7496 | 7397 | 7238
CIPLA CMP Rs 650.00
Near Term: Buy on dips as stock is expected to bounce with a target expected Rs 677.00
Intraday trading Levels Buy Above: Rs 657 Resistance Rs 662 | Rs 669 | Rs 681
Sell Below: Rs 643 Support Rs 638 | 631 | 619
Weekly Levels Rs 660 Resistance 666 | 677 | 694
Sell Below: Rs 639 Support 633 | 622 | 605
BPCL CMP Rs 821.25
Near Term: Strong support is expected around Rs 810, whereas trend changing level would be only above Rs 860.
Intraday trading Levels Buy Above: Rs 828 Resistance 832 | 838 | 849
Sell Below: Rs 815 Support 811 | 804 | 794
Weekly Levels Rs 866 Resistance 876 | 892 | 918
Sell Below: Rs 835 Support 825 | 809 | 784
SUN PHARMA CMP Rs 844.60
Near Term: Buy on dips as stock is expected to bounce whereas target expected is Rs 882.00
Intraday trading Levels Buy Above: Rs 853 Resistance 858 | 866 | 880
Sell Below: Rs 836 Support 831 | 823 | 810
Weekly Levels Rs 873 Resistance 882 | 897 | 922
Sell Below: Rs 843 Support 833 | 818 | 793
HDFC BANK CMP Rs 1004.05
Near Term: Buy on dips with a target expected Rs 1025.00.
Intraday trading Levels Buy Above: Rs 1012 Resistance 1017 | 1024 | 1037
Sell Below: Rs 996 Support 991 | 984 | 971
Weekly Levels Rs 1009 Resistance 1016 | 1029 | 1049
Sell Below: Rs 984 Support 976 | 963 | 943
M&M CMP Rs 1146
Near Term: Buy on dips with a target expected Rs 1200.00
Intraday trading Levels Buy Above: 1160 Resistance Rs 1169 | 1183 | 1205
Sell Below: Rs 1132 Support 1123 | 1109 | 1087
Weekly Levels Rs 1146 Resistance 1168 | 1203 | 1260
Sell Below: Rs 1075 Support 1053 | 1018 | 961
Disclaimer: I do have investment exposure in the above mentioned stocks / Index Fut/Options.
Ravi Nathani is a technical analyst at nsetoday.com