Stock Market Technical view: Strategy remains to sell on rise
S & P CNX Nifty CMP 6101.10
As expected index fell from daily highs negative closing , while support is expected around 6033 . Best trading strategy remains the same ” Sell on the rise .”
Intraday trading Levels Buy Above: 6119 Resistance 6130 | 6147 | 6176 Sell Below: 6083 Support 6073 | 6055 | 6026
CMP ADANIENT 207.25
Short term trend is upward on the charts, while the letters of strong resistance is around 214. As a strong rebound in the short term could attract selling pressure in place therefore traders strategy would be to sell in stands with a strict stoploss of 214 by closing basis .
Intraday trading Levels Buy Above: 211 Resistance 214 | 218 | 225 Sell Below: 203 Support 200 | 196 | 190
CMP ATLASCYCLE 268.25
About long-term trend is on the cards yet to slip from yesterday high could be treated as a strong resistance , therefore a stoploss of 284 , the best trading strategy would be to sell on the rise.
Intraday trading Levels Buy Above: 273 Resistance 276 | 281 | 288 Sell Below: 264 Support 261 | 256 | 248
EClerx CMP 1049.35
Trend is bullish on the charts , however close above 1070 would add trigger in direction. Strategy traders would buy only if closes above 1,070 , while resistance would be expected on the charts 1150.
Intraday trading Levels Buy Above: 1071 Resistance 1084 | 1105 | 1139 Sell Below: 1028 Support 1015 | 994 | 960
CMP Naukri 394.45
About long-term trend is up in the charts, the best trading strategy would be to buy on dips.
Intraday trading Levels Buy Above: 401 Resistance 405 | 411 | 422 Sell Below: 388 Support 384 | 378 | 367
CMP 333 RELIGARE
Trend is bearish in graphics , the best trading strategy would be to sell on the rise while the support provided in the letters is expected that about 320 and 297 .
Intraday trading Levels Buy Above: 338 Resistance 341 | 347 | 355 Sell Below: 328 Support 325 | 319 | 311
Disclaimer : I have no investment exposure in any of the actions / Future / Index Options above .