Intraday market outlook for 28August

On 28August, Nifty future will face resistance at4730 level, if it manages to sustain above this level then one can see Nifty heading higher upto the levels of 4758-4775. Any close above 4774, will boost positive sentiments in markets and then we can see markets to boom upto 4830-4905-4960 levels. However,If Nifty is unable to sustain at higher levels, then selling can come again and that will make Nifty to slide down, ondownside Nifty fut has support at 4660, once it breaches this levels and sustains below this then we can see lower levels of 4615-4585. Any close below 4580 will create negative sentiments in markets.

We recommend all traders to stay cautious in the range 4730-4758, as this range can act as a trend reversal range for the markets,if 4758 is not crosses with good volumes. So, one must keep a watch on higher levels and must kepp booking profits in all positions. One can go short from higher levels if 4755 is not crossed, with this level as a stoploss. In the current markets every trader must keep strict stoploss, as the market can show ambiguous moves.




Nifty Levels
Resistance- 4730-4758-4775-4792-4830
Support - 4660-4615-4585-4550-4510

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Intraday Calls

• PFC abv 241 tgt-244.3-246-250
• GMDC abv 113 tgt-116-118.6-124
• Mundra port abv 585 tgt-592-600-607
• Sterlite ind abv 691 tgt-699-706-720
• Great Eastern Shipping abv 293 tgt-297-300.5-306
• Also watch Omaxe, R system, ADSL, Chambal fert.

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

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