Our habit of predicting the accurate market view and giving you all the money minting calls continued this week also, last week we recommended all of you that market upside is limiyted and downside will come with 5-10% correction in short term and you all must have seen the market crash in last few sessions which made nifty touch lower levels. We warned all of you well in time,as we told this news in first week of june.All our stocks given to you all,made handsome profits in intraday/positional trades. We hope you all must be getting benefitted with our highly accurate market view and must be minting money with that.
In this week, we still recommend you all not to create fresh long positions, as market will be highly volatile due to F&O expiry, and we can see a correction coming in at every rise. This market correction will be healthier for markets and will provide a strong base for markets at lower levels. Upside in the current market is limited, and will be of magnitude 4545-4590 levels. For any upside rally, Nifty has to trade and sustain above these levels, but in current scenario this case is looking least possible. From the current levels of 4323, Nifty future will face major resistance at the levels 4415. For upside this week, Nifty has to sustain above this level. If Nifty maintins to sustain above this level , then we can see upside till 4480-4545-4590 levels. On the contrary if Nifty slides down below 4280 level, then we can see downside till 4205-4190 and more lower levels of 4150-4030. Concluding the whole market view, we can say that major triggers for the Nifty fut for this week are 4280 on lower side and 4415 on upper side, breaking on eitherside will lead Nifty to move further on that side.
Nifty range for this week is 4205-4415, sharp movement will come if Nifty breaks on eitherside. Stay cautious, and dont leverage positions. Stay hedged for all your long/short positions.
Nifty levels
- Resistance- 4370-4390-4415-4450-4545
- Support- 4280-4250-4205-4190-4150
Stocks for the week
- Asian Electronics
- Surya Pharma
- Strides Acrolab
- Jubliant organic
- Ruchi Soya
- Appolo Sindhoori
- Glory Polyfilms
- Kinetic Engineering
Intraday calls for 22June
- Buy ACC abv 753 tgt-762-775+
- Buy Ambuja Cement abv91 tgt-93-95
- Buy GMR Infra abv148 tgt-150-153+
- Also look for Indian Hotel, Mindtree.
For all trades, keep trailing your stoploss once the stock starts trading above buying price. Avoid spike buying.
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