Intraday market outlook for 10December

On 10December, Nify fut have support at 5102 level, once this level is breached by bears with good volumes, then we will see markets further going downwards till 5080-5065-5040 levels. On lowerside bulls have hopes till the levels of 5040, is not breaked. If bears are able to breach & hold below this level, then bulls will gradually loose some strength and will come under pressure of bears. On the upside movement, the major hurdle for bulls is at 5190 level, which is not been crossed since weeks and this level is now a barrier for an explosive upmove. However for intraday an intermediate resistance is t 5165 level also. Taking the broader side, if Nifty manages to cross & hold above 5190 level, then one should pack the bags for a upside ride. In the meantime the more time Nifty fut trades below 5190 and is unable to cross this, the more it will become harder for bulls to cross it in coming days, so all traders must trade with levels and not with sentiments. In Intraday if nifty fut holds above 5165, then we can see higher levels of 5190-5208-5226.

We recommend all traders to keep a watch on 5070-5190 range for the intraday, breakover of this range will open doors for further market movement. On broader range, traders can watch afor 5040-5190. The current narrow range of markets, will be breaked very soon, so all long/short positions must be hedged properly. Trading blindly or emotionally, might end up in losses.

Nifty Levels
Resistance - 5148-5165-5190-5226
Support - 5102-5080-5065-5040

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Intraday Calls

• Astec Life abv 94 tgt-95.4-97-100+
• BPCL abv 636 tgt-640-645-652
• KRBL abv 192 tgt-198-205-220
• Gruh Finance abv 228 tgt- 236-245-258+
• Also watch Bindal Agro, Nucleus Soft, Shanthi gears, Umang Dairies.

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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