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On 15July, Nifty fut will face major resistance at 4155 level, crossing and sustaining above this level can boost nifty for going up again. Watch this level, for any upside movement in Nifty fut. Once Nifty able to trade abv this level we can see it going till 4172-4190-4223 levels. However, failing to cross this resistance level of 4155, Nifty can revert back to lower levels of 4110-4088-4040. Any close below 4040 level, will once again make the bears come into action and Nifty can slide down to 4010-3950 and more lower levels.
We advice all traders to hedge their positions accordingly, as markets going to be very volatile in coming sessions. Nifty range for the day will be 4088-4150, breakout on either side will lead to sharp movement.
Nifty Levels
Resistance- 4135-4150-4172-4190-4225
Support- 4088-4065-4040-4010-3985
Intraday calls
- CMC ltd abv 820 tgt-832-845-862+
- Jubliant org abv169 tgt-172-174.5-178
- Onmobile abv 454 tgt-459-464-467+
- Moserbaer abv 69.2 tgt-70.5-72-72.8
- Also watch Rallis,Motilal oswal. SREI, Take sol. .
For all trades,keep trailing your stoploss once the stock is above the buying price. Avoid spike buying.
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