Last week we gave Nifty fut resistance and reversal level as 4490, and nifty reversed from 4482 to make a weekly low of 3962, against our support level of 3950. In our intraday market outlook for friday, we told everyone that get ready for ambiguous move in Nifty, and you all must have seen Nifty going up first and then crashing down sharply. Once Again we proved our matchless accuracy in market view.
For the week 13-17July, once again get ready for yet another sizzling week. Markets will again show an ambiguous moves in the week, giving the traders to mint money. On upside Nifty fut has major resistance at 4065. Nifty fut has to cross and sustain above this level in order to show an uprise. Moving above this level Nifty fut can rise till 4130-4190-4250 levels. However failing to cross the hurdle, Nifty can reverse back to show lower levels of 3950-3930-3865. Any closing below 3865 level, can make Nifty to show 3740-3650 levels.
Nifty has good support around 3865-3800 level and a major resistance around 4065-4150 level. For this week traders must stay cautious and trade with high caution, as market will be volatile. If the levels of 3930-3865 are not breached and sustained ,then a sudden bounce back from 3930-3865 can take place , so keep all your positions hedged accordingly. Nifty range for the week will be 3865-4065, breakout on anyside will lead to sharp movement in markets.
Sectors to watch
- FMCG
- Fertiliser
- Pharma
- IT
Nifty Levels
Resistance - 4030-4065-4130-4190-4250
Support -3950-3930-3865-3820-3740
Stocks for the week
- IOB
- Bosch
- REI Agro
- Universal Cables
- Prithvi Info.
- Jain Irrigation
- Barak valley cements
Intraday calls for 13July
- UTV Soft abv 328 tgt-332-337-340
- Areva abv 307 tgt-312-319-328
- SAIL abv 154 tgt-156-158.3-160
- JMT Autoabv29.65 tgt-30-30.4-31.5
- Sell ABAN bel 672 tgt-666-661-650
- Also watch Wabco,Geogit, Essar oil, IFL, Rallis.
For all trades,keep trailing your stoploss once the stock is above the buying price. Avoid spike buying.
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