Market outlook for the week 31August-4September

For the week starting from 31August, Nifty fut will face major resistance at 4784, once Nifty fut manages to cross and sustain above this level, then bulls will take the charge over bears and Nifty fut will spurt to the levels of 4830-4855-4905 levels. Any breakout and close above 4905 will open doors for higher levels of 4955-5035-5071. Contrary to the upside, if Nifty fut is unable to sustain at higher levels and reverts back, then it has support at 4705 level, breaching this level Nifty fut can slide down to the level of 4640 in short time, and this 4640 is a major support level, once Nifty breaks this level and sustain below this level then we can expect a correction in Nifty till the levels of 4580-4550-4444. Any close below 4444 level, can make the bears rule the market and market can slide down sharply to the levels of 4375-4330-4265.

We recommend all traders to stay cautious as the Nifty is on verge of a breakout of 225-300points. On upside one must be watchful in the range 4905-4955,as this range will again be trend deciding for further movement, and on lower side range of 4640-4550 is a crucial range. On the upside one must be cautious and keep booking profits as from higher levels a possibility of sharp correction cannot be ruled out. So, all uprise must be used to exit long positions and not to leverage positions.






Nifty Levels
Resistance -4784-4830-4905-4955-5035-5071
Support -4705-4640-4550-4444-4375-4265

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Stocks for the week

• KFA
• PSL
• BILT
• Repro
• Bartronics
• Kaveri Seed comp
• Tilaknagar ind
• Dalmia Cement
• Natco Pharma

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Intraday calls for 31August

• Provogue abv 65 tgt-66-67.2-68
• IDBI abv 103 tgt-106-109.5-112
• Uttam galva abv 99 tgt-102-104-107
• J K Cement abv 119 tgt-121-122.4-124
• Also watch Jindal photo,Madhucon pro. ,Thomas Cook,Exide ind.

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

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