Market outlook for the week 20-23 October

For the week starting from 20 October, Nifty future will face resistance at 5188 level. This level will play a key role for deciding the upcoming market movement, if Nifty is able to cross and close above this level then we can expect higher levels till 5225-5268-5298 levels. But for all these higher levels, Nifty fut must sustain above 5188 level. Moving to the higher levels bulls might get exhausted, markets may witness some profit booking and that can yield to downside move from highs. On the lower side Nifty fut have good support at 5080 level, and this level will act as a barrier for bears to come into action. If bears are able to break this then we can see bears in action and making markets to slide down further. If 5080 support level is breached and sustained, then we can see lower levels of 5030-4972-4935. Any close below 4935 level will be a energy booster for bears.

We recommend all traders to stay cautious in the range 5200-5298, if Nifty fut trades in this range after crossing 5188 major resistance level. From current levels an ambiguous movement can be seen in markets, so Cautious approach must be there as sudden profit booking cannot be ruled out. In this rally we can see 5225+ levels but on higher side profit booking can come and that can make the bulls calm down for a while. So this range must be used for booking long positions and not for creating fresh long positions. On higher levels market might not sustain, so its always good to follow levels rather than to go with sentiments. Bulls will remain active n alive,till Nifty fut is trading above 5030 on closing basis.

Nifty Levels

Resistance - 5188-5225-5268-5298-5332

Support - 5080-5030-4972-4935-4870

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Stocks for the week

• Suzlon
• Rolta
• Cairn
• Britannia
• Pioneer Distilleries
• Mirza International
• Comp-u-learn Tech
• Walchandnagar Peoplefirst

Investors can invest for long term in our MULTIBAGGER STOCKS with the given strategy for buying&booking profits, to see the stocks click here.

List 1

List 2

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Intraday Calls for 20 October

• Cairn abv 295 tgt-298-301.4-305
• Ciba ind abv 325 tgt-332-340-355+
• Bajaj Hindustan abv 220 tgt-222.5-224-227+
• Kalptaru Power abv 1004 tgt-1028-1045-1070+
• Also watch CMC,Phoenix Mills,Areva T&D,GTL Infra.

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.

For LIVE MARKET updates and stock calls, CLICK HERE.

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