Market outlook for the week 16-20November

For the week starting from 16November, Nifty fut will face resistance at 5048-5072 level, if market maintains to cross and sustain above this level then we can expect the bulls to once again gear up easily for a new ride, and taking Nifty fut to higher levels of 5112-5165-5256+ . For upside move one must concentrate on the closing above the resistance levels given above. However , in case Nifty fut is unable to cross n close above the resistance levels, then on lower side we have support at 4920 level, if this level is breached and sustained then expect bears to attack decisively and try to take charge over bears, and will make Nity fut slide down to lower levels of 4865-4840-4770. Any close below 4770 level will be energy booster for bears and bulls might loose grip over the market. Below 4770, bears will rule the market and will try to make the whole scenario turned into bearish for a while.

We recommend all traders to stay cautious this week, as market movement will be highly volatile with ambiguous moves. One must keep a watch on 4920-5072 range on Nifty fut on closing basis, as breakout on either side will lead to sharp movement in markets. Better to trade with levels and not with sentiments. The range upper-lower limits must be used for all long/short positions for this week. Intraday Nifty fut levels will be provided, for more precised market movement, stay tuned with EAIB Securities.

Nifty Weekly Levels

Resistance - 5048-5072-5112-5165-5256

Support - 4920-4865-4840-4770-4730

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Stocks fo the week

• Lyka Labs
• Asahi Songwon
• McLeod Russel
• Redington India
• Borax Morarji
• MTNL
• Moserbaer
• Tata Comm

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Intraday Calls for 16November

• Motherson Sumi abv 132 tgt-136-141-150+
• Jindal Steel&Power abv 700 tgt-705-712-720+
• Advanta India abv 620 tgt-628-640-652+
• JSW Holding abv 1895 tgt-1910-1936-1978+
• Also watch Network 18, Goodyear, Automotive Axles,Grauer&Weil.

For all trades keep trailing your stoploss once the stock starts tradng above the buying price. Avoid spike buying and DONT take delivery of any intraday stock.

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Only Accuracy Here!!!!