Market outlook for the week 23-27November

For the week starting from 23November, Nifty fut will face resistance at 5090 level, this level will once again act as hurdle for the bulls to move on upside, as it had acted in earlier weeks. If bulls manages to sustain above this level then we can see markets inching higher upto the levels of 5126-5145-5175. Any crossover and close above the levels of 5175, will take markets to 5200+ levels in short time. However, if bulls fail to cross & sustain above the level of 5090 then, once again bears will attempt to attack will try slide down the markets to lower levels. On lower side Nifty fut have support at 5030 level, if this level is breached and sustained, then we can see bears showing some activeness and making markets sliding down to 5005-4940-4910 levels. If in coming time bears are able to keep the markets below 4910 level and make it close below that, then expect some panic selling. Market will favours bulls,till its trading above the level of 5008.

We recommend all traders to keep watch on nifty fut range 5005-5090, breakout of this range will show some unidirectional movements in markts. Traders must trade with strict stoploss and leveraging of positions at this time will not be a wise idea, better trade and keep booking small profits. Due to F&O expiry this week, the markets will be highly volatile and will show sharp ambiguous moves, trading without intraday levels will be risky.

Nifty Weekly Levels

• Resistance - 5090-5126-5145-5175-5205
• Support - 5030-5005-4940-4880-4830

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Stocks for the Week

• Dena bank
• Educomp
• Gallantt Metal
• Thinksoft Global
• Uni Abex Alloy
• Kalyani Steels
• JP Hydro
• Gammon Infra

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Intraday calls 23November

• Pratibha Ind abv265 tgt-270-278-290+
• Ushdev International abv 160 tgt-165-172-180
• Tata Coffee abv 312 tgt-318-323-330
• ICICI Bank abv 900 tgt-910-918-927+
• Also watch Vishal Retail, Tulip telecom, Sterlite ind. ,Bosch Ltd.

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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