Intraday market outlook for 9 October

On 9 October, Nifty fut will face resistance at 5048 level. Unless n untill Nifty fut gives atleast two consecutive close above this level, it will be a range bound market with 5048 resistance on uppwerside and 4900 support on lower side. Once Nifty fut manages to sustain above 5048 level, then we can expect higher levels till 5072-5098-5115. However if it fails to cross and sustain above 5048 level, Nifty fut has support at 4965 level on downside, breaching below this level can bring a panic selling upto 4930-4902-4880. Any close below 4900 level, will be the first signs of weakness in markets. Till Nifty fut is sustaining above 4900level, market will favor the bulls,and it will keep bouncing back.

Nifty Level

Resistance- 5035-5048-5072-5998

Support - 4980-4965-4930-4902

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Intraday Calls

• Rcom abv 247 tgt-250-254-259
• Biocon abv 261 tgt-264-267-272+
• Siemens abv 585 tgt-593-600-612+
• Gwalior Chem abv 96 tgt-98-100.7-105
• Also watch HDIL, Gitanjali gems, Gati Ltd, Welspun Gujrat, Sun Pharma Advanced.

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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