Intraday market outlook for 30 October

On 30 Octoer, Nifty fut will face resistence at 4828 level, if it manages to cross and sustain above this level we can see it inching higher upto the levels of 4854-4880-4898. Markets will be weak only when we get a close below 4770 level, as we have mentioned erlier also. Breaching 4770 and closing below that will make bears stronger and markets can slide down further more. On lower side Nifty fut have support at 4750,breakout below this level i intraday can lead to further downside till 4732-4705 levels. Traders must not jump and buy in rise, instead wait for dips and do purchasing at lower levels.

We recommend traders to keep a watch on 4854 level on upside and 4770 on downside, reakout of these levels can show sharp movement. On upside 4850,level must be watched carefully,if it is reached selling pressure can agin build up in markets, and markets can slide down much in later hours. So, tradrs must not create freshlong positions at higher levels.

Nifty Level

Resistance - 4828-4854-4880-4898

Support - 4770-4750-4732-4705

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Intraday Calls

• Zee news abv 55 tgt-58-60-63+
• JSL ltd abv 198 tgt-100-103-105
• Sesa Goa abv 300 tgt-305-312-316+
• Balrampur Chini abv 153 tgt-158-162-165+
• Also watch Jindal steel,Pratibha ind., Colgate, Raj TV.

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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