Intraday market outlook for 3December

On 3 December, Nifty fut will have support at 5080 level, if this level is breached is sustained then we can see bears coming in action and sliding down markets to lower levels of 5062-5040-5010 levels. On lowerside 5000 leel will act as a barrier for bears. On the contrary on upside, 5135 level will act as a resistance for Nifty fut, once this level is crossed we can see Nifty fut heading toward 5148-5172-5210 levels. The major hurdle on upside will be 5172 level, and bulls have to manage to sustain above this level in order to get some energy to move further on upside.

We recommend all traders to keep a watch on range 5090-5172, breakout of this range will show some movement in the direction of breakout. If nity fut sustains above 5172 level, one must not remain short in markets. For intrday on lower side 5090 level will also, be crucial for long position holders.

Nifty Levels

• Resistance - 5148-5172-5190-5210-5226
• Support - 5080-5062-5040-5010-4980

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Intraday Calls

• ESAB ind abv 510 tgt-518-526-540+
• Aptech abv 194 tgt-198-204-210+
• Bajaj Hindustan abv 216 tgt-219-221-225
• Automotive axles abv 322 tgt-327-330-335
• Also watch Sayaji Hotels, Dena Bank, KS Oils, Educomp.

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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