Last week all our Delivery calls given by us blasteddd in volatile negative market trend,and gave 5-20% gains in 1-2 days. Our option calls of Powergrid110CA, Rolta100CA,SBI1380CA,Chambal fert45PE,Nifty 3500PE,Nifty 3800,3900CE all blasted to gave 50-200% gains to all our members.
On Friday we saw Nifty bouncing back from lows and making a decent gains in from lower levels. Since last two weeks we are telling you all that Nifty fut res-3710 and nifty is unable to sustain above this level and making reversals from this resistance level.
With the clear mandate to UPA murmurs of the next stimulus package are already doing rounds. As of now a gap up is a certainty the magnitude is debatable. But Longer the govt. formation takes place the more markets will become volatile and shed its gains. Pension sector and Banking sector reforms will be an event worth watching for in coming days.
For this week Nifty resistance will be at 3775-3830 level, however few closes above this level can take nifty to 3970-4090-4230 levels,but one must stay cautios once Nifty crosses the level of 3830-3910, we may see some profit booking above thsese levels. In current scenario Nifty have support at 3665,few close below this level will take nifty to 3520-3445 and lower levels. So,for this week one must keep a sharp eye on market movement and must nbot go with naked trades,and so each position long/short must be hefged accordingly. For this Nifty range will be 3665-3830, breakout on eitherside will lead to sharp movement. For nifty trading abv 3730 level,keep a stoploss of 3665 for your long positions. One must stay cautious at higher levels from current levels.
Nifty levels-
- Resistance-3775-3830-4090-4230-4370
- Support-3665-3520-3445-3330-3210
Stocks for the week-
- GNFC
- Unitech
- Petronet
- Powergrid
- JP Associates
- JP Hydro
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Note: In the current market dont trade without levels, and if trading then one must keep booking profits, or trail stoploss, as market is highly volatile.
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