On 13January, Nifty fut have support at 5165 level, if this level is breached we will see markets sliding down to the levels of 5130-5112-5090. Closing below the levels of 5130, will create panic selling in markets. However if markets are able to sustain above 5130 level, we can expect a bounceback in markets in. On higher side Nifty fut have resistance at 5235 level, if this level is crossed and sustained then we can expect some upside till the levels of 5255-5276-5294 levels. We were continuously saying since last few days that below 5315 level bears will be active again, and now the result is in front of you all....Nifty was unable to close above 5294-5315 level and yesterday it made low 5200 from recent highs of 5310. Hope all of you must be safe, and must be sitting with good gains.
We recommend all traders to keep watch on 5130 level on lower side, as if bulls will try hard to make markets hold this level. So, shorting at lower levels is not suggested for intraday. However if in coming days markets sustain and close below the levels of 5130, then a panic selling can come in markets which can show much lower levels till 5070-5044. Contrary to this if nifty fut is able to hold above 5130 levels on closing basis, then once again bulls will try their luck and will try to take charge over bears in coming days. So all traders must stay cautious and must not leverage positions without proper knowledge of market drections.
Nifty Levels
- Resistance - 5235-5255-5276-5294
- Support - 5180-5165-5130-5112
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Intraday Calls
- McLeod Russel abv 274 tgt-277-280-284
- Thinksoft abv 422 tgt-426-431-440+
- Grauer & Weil around 74 tgt-76-78.3-80+
- Sell DLF bel 382 tgt-378-373-369
- Also watch Nectar Lifescience, Tata Comm. ,Suven Lifescience, B&B Reality.
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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