On 17September, Nifty future will face major resistance 5035 level, if it manages to cross and sustain abve this level then we can see higher levels of 5064-5090. Sustaining and closing above the resistance level can once again make traders to jump and buy in panic, however the big bulls will try to keep booking orofits at all higher levels above 5000 level. Contrary to the upside if Nifty fut reverts back from higher levels on account of profit booking, then on lower side it has support at 4940, breaching below this level Nifty can slide to 4912-4885-4855 levels. Any movement below 4855, will create panic selling situation which can make markets come down sharply.
Nifty fut above 5035 can touch 5090-5145-5210 levels,as few big bulls playing massively in current markets. They are long from 4440 levels, so they are trying to steam up the markets to exit their long positions. We recommend all members to keep booking profits at every rise, as after inching higher any time sudden profit booking can come. Use these upside to exit the long positions and not to create fresh positions.
Nifty Levels
Resistance- 4990-5035-5064-5090
Support - 4940-4912-4885-4855
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Intraday Calls
- Tata Motors abv 606 tgt-612-620-628+
- Godrej Ind abv 204 tgt-208.8-212-217
- Amtek auto abv 187 tgt-189.4-192-196
- Rel Power abv164 tgt-167-169.3-171
- Also watch LIC Housing, Tata Steel, Jindal Steel,Orchid chemical.
For all trades,keep trailing your stoploss once the stock is above the buying price. Dont take delivery of any intraday call. Avoid spike buying.
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