Top Intraday Trading Ideas for Monday, September 16, 2019 |Nifty Technical Outlook

Top Intraday Trading Ideas for Monday, September 16, 2019 |Nifty Technical Outlook

shivansh bhasin  | Sep 15, 2019 13:19

NIFTY View:

  1. Nifty formed a Bullish Engulfing pattern on the daily scale while forming a bullish candle on the weekly scale.
  2. The Nifty managed to hold immediate support of 10,950 levels and witnessed strong recovery from lower levels to head towards 11,085 levels.
  3. The breakout above 11,140 levels creates fresh long positions. Nifty is trading in a range of 2 moving averages 50 MA at 11,111 - 11,140 levels act as a resistance on a weekly closing basis. 100 EMA at 10,780 level act as crucial support on a weekly closing basis.
  4. Nifty too forming Inverted Head & Shoulder in the daily chart where neckline breakout is above 11150.
  5. On 08-July-2019 Nifty breaks 20 days EMA at 11,800 levels and from that level Nifty falls more than 10% to 10,650 levels, shows major trend reversal in a bearish side.
  6. On 08-September-2019 Nifty closed above its 20 days EMA on a daily closing basis to show trend reversal on a positive side for major upside at 11,450 levels at the end of this month.
  7. The weekly RSI stands at 44.73; it remains neutral and does not show any divergence against the price. The weekly MACD shows a reversal sign forming green bars.
  8. India VIX fell by 13.21 percent in the last week from 16.27 to 14.12 levels.

GLOBAL View:

  1. There is no doubt in the Fed Rate Monitor Tool that it will deliver another 25 bp rate cut. There may be dissents in both directions, with one-to-three dissents to keep rates steady and a possible objection by Bullard to deliver a 50 bp cut.
  2. Iran has seen its exports falling by over 2 million BPD since the sanctions have been imposed and Venezuela have seen its exports plummeting too.
  3. An attack on Saudi oil facilities on Saturday is believed to have disrupted half the country's production capacity, making the United States the only real holder of the global supply

COMMODITY View:

  1. Oil dips as demand concerns counter U.S.-China trade hopes
  2. We expect the rupee to face stiff resistance around 70.80 levels and witness some depreciation all over again.
  3. Gold prices fall for the seventh day in a row, down ₹2,400

Here's a look at the top stocks that may remain in focus today -

Limelight Sectors:

1. EXPORT

2. NBFC

3. IT

4. METALS Sectors

Stocks To Watch:

  1. BUY: - JUBLFOOD at 1255
Target Price: 1263 - 1279

Stop-loss: 1243

2. BUY: - KOTAK BANK AT 1486

Target Price: 1495 - 1504

Stop-loss: 1475

3. BUY: - HCL TECH at 1065

Target Price: 1072 - 1079

Stop-loss: 1057

4. BUY: - LTI at 1610

Target Price: 1618 - 1624

Stop-loss: 1594

5. BUY: - TATASTEEL at 367

Target Price: 374 - 378

Stop-loss: 359

For watching my upcoming video on Nifty 50 and Bank Nifty, subscribe my Youtube Channel ‘, Shivansh Bhasin’

(Views and recommendations given in this section are my own analysis. Please consult your financial adviser before taking any position in the stock/s mentioned.)

shivansh bhasin

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Siri Cutiepie
Siri Cutiepie

Very goods picks on intraday trading today.. keep up the work.. looking for more intraday calls  ... (Read More)

Sep 16, 2019 13:13 GMT· Reply
Up Yours
Up Yours

Update please   ... (Read More)

Sep 16, 2019 03:21 GMT· Reply
ANAND KUMAR BADAL
ANAND KUMAR BADAL

your RISK:REWARD for all recommended stocks are not good to take up the trades..Kindly review  ... (Read More)

Sep 16, 2019 02:54 GMT· Reply
Anil Naramabatla
Anil Naramabatla

Attacks cannot be predicted while doing techincal analysis  ... (Read More)

Sep 16, 2019 02:38 GMT· 1 · Reply
Mighty Moustache
Mighty Moustache

Oil hasn't dipped. Oil has jumped up 9 points to 69. Please update. Due to fire in Saudi Aramco facility   ... (Read More)

Sep 16, 2019 00:03 GMT· Reply
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