On 15January, Nifty fut will be having a resistance level at 5276 level, if it manages to hold and sustain above this levels then next hurdle for the upsurge will be 5315 level. If Nifty fut sustains above 5276 level, then we can see higher levels of 5294-5315-5335. In order to take charge over bears, bulls have to hold Nifty fut above 5315 level, failing to do so bears will will make all possible effort to drag down the markets to lower levels in later hours from higher levels. On lower side support for Nifty fut is at 5245 level, if it breached and sustained then we can see markets sliding down to 5222-5208-5180 levels. In the current scenario the market movement is ambiguous so traders must follow the strategy of buy at dips & sell on rise, rather than waiting for expiry/day closing targets.
We recommend all traders to keep a watch on range 5165-5315 , as this range will act as a crucial range and will decide the trend for coming days. Traders must keep booking profits in all trades without greed, as if now markets can show some ambiguous move. We need to close consecutively above the upper limit in order to have a sustainable uptrend, failing to do so we markets will be in hands of bears.
We recommend all traders to keep a watch on range 5165-5315 , as this range will act as a crucial range and will decide the trend for coming days. Traders must keep booking profits in all trades without greed, as if now markets can show some ambiguous move. We need to close consecutively above the upper limit in order to have a sustainable uptrend, failing to do so we markets will be in hands of bears.
Our market outlook for yesterday have much crucial information, those who havent read it yesterday, dont miss to read it out today, click here to read.
Nifty Levels
Resistance - 5276-5294-5315-5335
Support -5245-5222-5208-5180
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Intraday Calls
- Chettinad Cement abv 577 tgt-590-621-650
- Biocon abv 299 tgt-302-305-309
- Phillips carbon abv 163 tgt-165-166.5-170+
- Wipro abv 743 tgt-750-759-775+
- Also watch Dredging Corp, Punj lloyd, Finolex cables, RIL.
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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