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Thursday, September 3, 2009

Intraday market outlook for 3September

On 3September Nifty fut will face resistance at 4665 level. In order to move upward Nifty fut has to cross and sustain above this level, once its able to do so, then we can expect higher levels of 4690-4715-4755. However, if it reverts back from resistance levels, then on lower side support is at 4570 level, breaching this level will make Nifty fut to slide down to levels of 4545-4510 level.
We recommend all traders to keep eyes on 4510 level for all long positions as this level might act as good support on downside and on upside 4665 level must be watched. Range for Nifty fut will be as 4510-4665, breakout on either side will lead to sharp movement.




Nifty Levels

  • Resistance- 4665-4690-4715-4755
  • Support -4570-4545-4510-4444

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Intraday calls

  • JP Associates abv 217 tgt-219-221.3-225
  • Reliance Comm abv 277 tgt-280-284-289
  • Canara Bank abv 276 tgt-279-281.5-284
  • HCL Tech abv 310 tgt-313-316-320
  • Also watch KFA,Todays writing,Shree Astha, Balaji Tele.

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


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