Intraday market outlook for 31December

For 31December, Nifty fut has resistance at 5190 level, if it is able to cross and sustain above this level then we can expect higher levels of 5210-5226-5265. However looking at the market sentiments it seems that at every rise there will be a profit booking till Nifty fut is not able to cross the crucial level of 5210. And so long positions must not be built up at higher levels. For a sustainable upside Nifty fut must sustain above 5226 levels, and if this happens then we will witness a massive short covering in markets which will lead to uprise. In today's trade we might witness some high volatility in markets due to the F&O expiry today. Moving on downside Nifty fut has support at 5135 level, breaching and sustaining below this level will indicate a weakness in markets and markets can tank down to 5102-5070 levels. Overall scenario for markets will be buy on dips and sell on rise till nifty fut is trading in range 5102-5210. Crossover of this range on eitherside will show some sharp movement.

We recommend all traders to keep a watch on 5135 level on downside, if this level is not breached and sustained, then we can expect a bounce back in markets till given resistances in later hours. So, one must not go short at lower levels unless 5102 is breached decisively, rather buy on dips and sell on rise in intraday trade. All trades must be followed by profit booking time to time and must be done with strict stoplosses, as the markets will be highly volatile throughout the session and we can witness ambiguous moves in markets.

Nifty Levels

• Resistance - 5190-5210-5226-5265
• Support - 5135-5102-5070-5044

====================================

Intraday Calls

• Nava Bharat Ventures abv 411 tgt-415-421-425+
• Balakrishna Ind abv 503 tgt-512-520-535+
• Tinplate abv 85 tgt-88-92.4-96
• Financial technologies abv 1370 tgt-1380-1392-1409
• Also watch Viceroy Hotels, IL&FS , Hindustan Motors, JSW Holding.

For all trades,keep trailing your stoploss once the stock is above the buying price. Dont take delivery of any intraday call. Strictly Avoid spike buying.

For INTRADAY LIVE MARKET calls, CLICK HERE.

====================================

For live market updates and stock calls, add our yahoo id- eaibsecurities@yahoo.com

Note- To Get all calls on mobile through SMS, Join our groups, FULTOOMASTI & EAIB Securities . Join both groups.

Only accuracy here!!!!