For the week starting from 9November, Nifty fut will face resistance at 4872 level, this level will be a crucial one for deciding the trend for markets in coming days. Bulls will try to stretch the markets above this level,and close consecutuively above this level in order to gain some strength over bears. If it happens and Nifty fut crosses and sustains above this level then we can see market heading toward next resistance levels of 4905-4945-4970. Any close above 4945 level will be a booster for the bulls. Howevever, as we have mentioned in our market view for last week also, markets are currently facing sell offs at higher levels. On downside nifty fut have support at 4755 level, if this level is breched and sustained then we can see lower levels of 4700-4665-4630, in panic sell off if 4630 levels is breaked then we can see bears taking charge completely over the market and will take down markets to much lower levels .
We recommend all traders to stay cautious in range 4755-4905, as breakout of this range canshow some sharp market movement. On upside if 4850-4905 level is not sustained , then sell off can come in markets. Traders must avoid creating fresh long positions on higher levels. In the curren scenario, people must follow level trading rather than going for sentimental trading, as sentimental trading can trigger your stoplosses on both sides of movement. Markets will show sharp movement in coming days, so trade with discipiline and patience. Dont jump n trade.
Nifty weekly Levels
Resistance - 4854-4872-4905-4945-4970
Support - 4755-4700-4665-4630-4580
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Stocks for the week- KFA
- MMTC
- Temptation Foods
- Tata Tea
- Fulford Ltd
- Zydus Wellness
- Gallantt Metal
- JPT securities
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Intraday Calls
- Educomp abv 820 tgt-828-836-854
- Sirpur Paper Mills abv 54 tgt-56-58.5-62.8
- Jindal Steel&Power abv 658 tgt-665-672-680+
- Maharashtra Polybutene abv 195 tgt-198-202-205+
- Also watch Heliosmath, United Spirits, Mphasis, Allied Digital.
For all trades keep trailing your stoploss once the stock is above your buying price. Dont take delivery of any Intraday calls. Avoid spike buying.
For LIVE MARKET CALLS & UPDATES, click here.
Only Accuracy Here!!!!
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