Near term trading Strategies for financials: Ravi Nathani

Here are a few intra-day trading strategies for trade today

Below mentioned are the Intraday Levels along with Near Term Trading Strategies for: 29-Oct-15  

S&P CNX NIFTY CMP Rs 8171.20 
 

Near Term: range bound on charts (8095 - 8242) trade above/below would add trigger in the direction.

Intraday trading Levels Buy Above:  Rs 8189 Resistance 8201 | 8219 | 8249
Sell Below: Rs 8153 Support Rs 8142 | 8123 | 8094

Weekly Levels Rs 8322 Resistance Rs 8338 | 8364 | 8406
Sell Below: Rs 8269 Support Rs 8253 | 8227 | 8185

INDUSIND BANK CMP Rs 924.20 
 

Near Term: Post double top stock has given a fresh negative breakout whereas strong support is expected around 905, best trading strategy for traders would be sell on rise.

 

Intraday trading Levels Buy Above:  Rs 935 Resistance Rs 941 | 952 | 969
Sell Below: Rs 914 Support Rs 907 | 897 | 880

Weekly Levels Rs 965 Resistance Rs 968 | 973 | 981
Sell Below: Rs 955 Support Rs 952 | 947 | 938

 SKS MICROFINANCE CMP Rs 426.80
 

Near Term: Trend is down, best trading strategy would be sell on rise.

Intraday trading Levels Buy Above:  Rs 433 Resistance Rs 437 | 443 | 452
Sell Below: Rs 421 Support Rs 417 | 411 | 401

Weekly Levels Rs 436 Resistance Rs 443 | 456 | 476
Sell Below: Rs 411 Support Rs 403 | 391 | 371

AXIS BANK CMP Rs 482.90 
 

Near Term: Strong support on charts is expected around 470, with a strict stoploss of the same best trading strategy would be buy on dips.

Intraday trading Levels Buy Above: Rs 487 Resistance Rs 490 | 495 | 502
Sell Below: Rs 478 Support Rs 476 | 471 | 464

Weekly Levels Rs 532 Resistance Rs 536 | 542 | 552
Sell Below: Rs 519 Support Rs 516 | 509 | 499

ICICI BANK CMP Rs 271.20 
 

Near Term: Strong support is expected around 263, best trading strategy would be sell on rise.

Intraday trading Levels Buy Above:  274 Resistance 276 | 278 | 283
Sell Below: 268 Support 267 | 264 | 260

Weekly Levels 289 Resistance 290 | 293 | 297
Sell Below: 284 Support 282 | 279 | 275

YES BANK CMP Rs 728 
 

Near Term: Range bound on charts (Rs 720-780) close above/below would add trigger in the direction.

Intraday trading Levels Buy Above: Rs 735 Resistance Rs 740 | 747 | 759
Sell Below: Rs 720 Support Rs 716 | 708 | 696

Weekly Levels Rs 777 Resistance Rs 780 | 785 | 794
Sell Below: Rs 766 Support Rs 762 | 757 | 748

Disclaimer: I don't have investment exposure in any of the above mentioned stocks / Index Fut/Options. 

Ravi Nathani is a technical analyst at nsetoday.com