Intraday market outlook for 30December

On 30December, Nifty fut will face resistance at 5210 level, this level will be once again a major resistance for bulls on upside and in order to retain their gains bulls have to cross and sustain above this level. Once this level is sustained,we can see higher levels of 5226-5250-5265 in markets. However, if bulls fail to sustain above the resistance level of 5210, then bears will try hard to try take the charge over bulls and slide down the markets. On lower side Nifty fut have support at 5165, if this level is breached then we can see 5135-5102-5070 levels in markets in short time. Till Nifty fut is trading above the level of 5135, bullsare having an upper hand.

We recommend all traders to stay cautious today, as due to F&O expiry the movement can be deceptive and traders can be trappd on both sides. Low risk traders must stay away and others can trade with strict stoplosses. On higher side if Nifty fut crosses 5210 level, then a short covering can come. Nifty fut range 5135-5265, must be watched carefully, breakout of this range can show sharp movements. All short position holders must stay cautious if Nifty fut crosses 5210 decisively.




Nifty Levels
Resistance - 5210-5226-5265-5288
Support - 5165-5135-5102-5070

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