For the week starting from 14 December, Nifty fut will face resistane at 5190 level. As we have mentioned the importance of this level in earlier week also, and you all must have watched the massive crash from 5188 level to 5085 level in few minutes, this week again the level of 5190 will act as crucial level. Crossover & consecutive close above 5226 level will charge the bulls for a heavy upside till 5265-5330-5375+ levels. However, if market is able to give consecutive close above 5340 level, we might see some sudden spurt once again in markets, and then a rally of 80-125pts can be seen from this level in lesser time. But one should not trade blindly, as all the upside will only after nifty fut is having crossover n consecutive close above 5190-5226 level. In case Nifty fut is unable to sustain above 5226 levels once again, then we might see some retracement on downside wih first support around 5044 level, breaching below this level market may slide down to the lower levels till 4972-4930-4880. Any close below 4900 level, will favour bears and bears might come in action and take charge over bulls. Till Nifty fut is trading above 5044 level, bulls are having upperhand in markets.
We recommend all traders to keep a watch on the range 5044-5226, crossover of this range on closing basis will decide the further trend of markets. All members are requesed to trade with cautiousness and hedge their portfolio properly, as the markets will show ambiguous moves with high volatility in coming days. Till 5044 level is not breached, one must use the strategy of buy on dips & sell on rise. If 5044 level, is not breached we might see a new high this week. Trading blindly or emotionally might end up in losses.
Nifty Weekly Levels
- Resistance - 5190-5226-5265-5330-5375
- Support - 5070-5044-4972-4930-4880
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Stocks for the week
- Triveni Engineering
- Mediaone global
- JBF Ind.
- Shanthi Gears
- Kwality Dairy
- Eastern Silk
- Educomp
- Jyoti Structure
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Intraday Calls
- Bhushan steel abv 1330 tgt-1342-1355-1370+
- Reliance Ind abv 1074 tgt-1088-1100-1108+
- Berger Paints abv 64 tgt-65.5-67-69.4
- KS Oil abv 65.5 tgt-66.3-67.2-69
- Also watch Astec Life, Vishal Info, Indraprastha medical, Mirza International.
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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