Indian stock markets are likely to open with a strong positive note as suggested by global share markets. HangSeng, Nikkei, and other Asian indices are trading above 1 percent and bulls are in the driver seat today. However, Nifty50 has strong resistance levels at around 10300. So, let it consolidates above 10300, then take your call. Today Nifty50 may face resistance at around 10300 followed by 10350. Check out more stock market intraday trading tips – 12 Mar 2018.
Today’s range for Nifty50 is 10150 on the downside and on the upside, it may face resistance at 10350. Bank Nifty, has a crucial support level at 24100 and its key resistance levels are at 24700.
FII and DII Activity
Foreign institutional investors (FIIs) bought shares worth Rs. 550.36 crore and domestic institutional investors (DIIs) sold shares around Rs 65 crore in the Indian stock market.
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Stock Market Intraday Trading Tips – 12 Mar 2018
Equity, Future & Options, Commodity & Currency
Equity Stock Market Intraday Trading Tips – 12 Mar 2018
BUY Ashok Leyland for a Target of 151.50, and keep Stop Loss @ 144.50
Short JSPL for a Target of 215, and keep Stop Loss @ 225
SELL IDBI Bank for a Target of 67, and keep Stop Loss @ 72.50
Future & Options (Put/Call) Day Trading Tips
Long Nifty March 10300 CE (Call Options Trading) for a Target of 145, and keep Stop Loss @ 60
Commodity Day Trading Tips
Long Crude Oil Mar Future for a Target of 4095, and keep Stop Loss at 3950
Currency Day Trading Tips
Long USDINR Mar Future for a Target of 65.50, and keep Stop Loss at 65.25
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Author: Ratan Kumar
Ratan Kumar, an enthusiast stock market trader & blogger. Forecasting stock market moves with the use of technical analysis since 2008. For the technical trader & investor, new or experienced, he provides legitimate and valuable advisory from day trading to long-term investment horizon and helped thousands of investors to make money out of stock market.