Intraday market outlook for 12August

On 12 August, Nifty fut will face resistance at 4490 level, once it crosses and sustains above this level then we can see Nifty inching higher upto the levels of 4512-4545-4572 . For strong upmove in coming days Nifty fut must close above 4545 levels for 1-2 days. Contrary to the upside, if Nifty is unable to cross these resistance levels, then it can revert back and get support a the levels 4455-4402-4390. On downside one must be watchful for the level 4350, as this level can act as trend reversal level if Nifty mangages to sustain above this level. Nifty range for the day will 4455-4512, breakout on eitherside will lead to sharp movement.

We recommend all traders to trade with levels, and use every downside till 4350 to buy at lower levels and keep booking profits at every rise on upside till 4545-4630 level. Any close above 4630 can again make bulls to take charge over bears. 4350-4572 levels must be watched for all long/short trades done by the traders.

Nifty levels

Resistance- 4512-4545-4572-4598-4630

Support - 4430-4402-4390-4350-4305

Intraday calls

• IB Securities abv 47 tgt-48.4-49.5-51
• Austral coke abv48 tgt-49.2-50-51.7
• Sell Adlabs bel312 tgt-308-301-296
• Sell L&T bel 1440 tgt-1422-1401-1387
• Also watch Natco pharma, GVK Power, Chambal fert, Excel info.

For all trades,keep trailing your stoploss once the stock is above the buying price. Avoid spike buying.

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