On 12 January, Nifty fut has support at 5220 level, breaching below this level markets will slide down to take support at lower levels of 5202-5180-5165. Till Nifty fut is unable to close above 5315 level, bears will trayagain n again for taking charge over the markets. If bears are able to break and close below 5202 level, bulls might become weak for coming days. However if 5202 is not breaked and sustained then we can expect bulls to once again getting active, and making markets bouncing back from lows. On higher side Nifty fut has minor resistance at 5276 level and a major hurdle at 5294 level, if bulls are able to cross n sustain above 5294 level then they can stretch markets on upside till 5315-5335-5370. The major hurdle on upside will be 5294 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 5202-5315, in intraday. This range will be crucial for today, and breakover of this range will show the direction for further movement of markets. Once again we are warning all traders, not to speculate and leverage positions blindly without knowing the direction of markets, as that can make losses on both sides (up-down) 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.
We recommend all traders to keep a watch on range 5202-5315, in intraday. This range will be crucial for today, and breakover of this range will show the direction for further movement of markets. Once again we are warning all traders, not to speculate and leverage positions blindly without knowing the direction of markets, as that can make losses on both sides (up-down) 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.
Nifty Levels
- Resistance - 5276-5294-5315-5335
- Support - 5245-5220-5202-5180
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Intraday Calls
- Indraprasth Gas abv199 tgt-200.5-203.4-207+
- Federal bank abv253 tgt-255-257-261+
- Ritesh Properties abv 22.65 tgt-23-24.3-26.2
- Thinksoft abv 408 tgt-415-428-447+
- Also watch Goldstone Infra, GE Shipping, Grauer&Weil, Cox & Kings.
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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