Friday, May 6, 2011

Best Intraday Trading Stocks

SENSEX (Close - 18210.60)
Sensex kept on falling as sell off hit at every level. Yesterday, it was silent but suddenly turn violent in afternoon trades. We might not able to see any such great reason for fall but fact is that fall is coming. We are in over sold zone but sometime market falls in overbought zone too. Most of the time such fall comes with larger magnitude. 

There is sign of revival. It seems that even if recovery comes it will not sustain so one should trade short on higher levels. There are some reality and banking stock, which can see a sharp break down anytime. As of now it should see a levels like 18000 to 17900 as support. Well, trade long only if we get short covering. Remember, a silent market will not be a sign of short covering. Short every silent market. Believe it or not but we are just on the verge of a slowing economy.

Nifty has suddenly broken 5500 marks in the last session and now reducing the possibility if recovery. Even if recovery comes it will not last more than 1-2 trading sessions. Even if it comes at 5500 to 5550 levels then also it will get sold. 

JSWSTEEL (Close - 859.55)
This stock has broken the support of 890 and now looking to head for 840 levels at least. Trade short on rise near 867 with stop loss above 875. In the lower side first target is at 840. If trades sustain below 840 then you can expect even levels like 800. 

LT (Close - 1532.55)
I was very optimistic when it was closing above 1700 levels but now things have changed a lot. It seems that it can drift lower below 1500 marks. I suggest to trade short on rise near 1545 levels with stop loss above 1560. Expect target below 1500. 

DLF (Close - 215.20)
If this stock sustain below 215 then we can expect levels like 210 to 208 by today itself. I suggest to trade short on this stock below 215 with small stop loss of 2-3 rupees. If trades sustain below 208 then it will see another round of huge sell off. 

Today : Yesterday Nifty opens Negatively and showing very volatile session in the market. And it was showing correction situation it breaks the 5510 and 5481 this the retracement level below that can see more fall in the market and it was close negatively. Now the new support level is 5414-5371. And resistance is 5510-5571. Buy onl after intra day break out after consolidation.

BSE : Today : . As expected BSE Index is bearish side and showing some correction situation in the market and close negatively. Now today support watch 18047-17951 and resistance is 18320-18500. 

TODAY : - Crucial level is 10690. .... Break and trade below over all selling in the market and down side target 10500, thereafter more down and likely take support 10150-10100 range. Higher level resistance 10900-11000. Major support exit 10500 - then target 9500-8000 expected.

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