Intraday market outlook for 7 October

On 7 October, Nifty fut will face resistance at 5048 level. Nifty fut has to cross and sustain above this level,to continue upsurge in coming days. If it manages to sustain above 5048 level, then we can see Nifty fut heading towards 5075-5098-5115 levels. However, if it fails to cross the resistance level, then it can retrace the downside path, and on lower side Nifty fut has support at 4990 level, if this level is breached then it can slide down to the levels of 4962-4945-4920. On downside 4900level, is the major support level, and till Nifty ft is above this level, bulls will be having an upper hand.

We recommend all traders to keep a watch on 5048 level, as crossover from this level can bring some fresh buying. Any closing above this level will mark a positive trend for coming days. So traders must use all downside till 4920 as an buying opportunity rather than to do short selling on lower of. Use strategy of buy on dips and sell on rise, to maximise your gains.





Nifty Levels
Resistance- 5048-5075-5098-5115
Support - 4990-4962-4945-4920

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Intraday calls

• Idea abv 65 tgt-66.2-67-68.8
• 3i Infotech abv 101 tgt-104-107-112+
• Tata Steel abv 512 tgt-516.8-520-527
• Kwality Dairy abv 685 tgt-692-699-712+
• Also watch Omnitech, FCS Soft, Mirza International, Suashish Diamond.

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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