Intraday market outlook for 12November

Once again a blastinggg day for all our members, with Team EAIB providing the most accurate market view and made everyone to enjoy the Nifty flight. As we have said on Tuesday, Nifty fut Support was 4865, and it closed above that level on tuesday. On wednesday we informed all members that above 4950 level,break fail for Nifty fut and intraday next res-5008-5030 only, Nifty fut made high-5024. Many people still sitting & watching all this movement, and waiting for right time to enter into the markets, whereas members following us enjoying each n every market movement and minting money.

On 12 November, Nifty fut will face resistance at 5048 level, in order to maintain the upside bulls must try to take Nifty above this level. If bulls manages to stretch the upside above 5048 levels, then we can expect higher levels of 5062-5080-5112. Any close above 5080 level will again bea booster for bulls and major blow for bears. However, in last few days we have witnessed a sharp upside in markets,and every rise is followed by a profit booking so we must also follow the trend and do some profit booking at higher levels. If profit booking comes in market in later hours then Nifty fut has support at 5005 level, breaching this level on downside may make market to go down to lower levels of 4975-4948-4910. Overall the scenario will be favourable for bulls till Nifty fut is sustained above 4865 level on closing basis.

We recommend all traders to keep booking partial profits in all long positions in range 5028-5080, as this range is crucial for markets in coming days and can act as trend reversal range if not crossed and sustained above upper limit. So, traders must keep a cautious approach and must not be greedy in profits. As we have mentioned in the beginning of the month, that this month will be full of sharp swings, so timely entry-exit is the need of current markets.

Nifty Levels

Resistance - 5048-5062-5080-5112

Support - 5005-4975-4948-4910

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Intraday Calls

• ITI ltd abv 50 tgt-51-52.1-54
• Karuturi Global abv 15.9 tgt-16.4-16.6-17+
• Educomp abv 782 tgt-790-810-845+
• United Breweries (holdings) abv246 tgt-251-258-270+
• Also watch Renuka Sugars, Bhansali engg, Rajesh Export, MTNL.

For all trades keep trailing your stoploss oncethe stock is above buying price. Avoid spike buying and dont take delivery of any intraday call.

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Only Accuracy Here!!!!