As we said yesterday, Nifty after beaking support of 5194, went straight to 5144 level and haulted near 5130 support level and as it breaked that also, a sharp sell off came again and made Nifty fut to slide down o 5077 level. We hope all of you must be safe and made good money as we have already suggested that in intraday below 5194 level a sell off can come and also suggested that breakover of 5130 will show sharp move to 5070-5044 level support levels.
On 22January, Nifty fut have support at 5044 level, if this level is breached we will see markets sliding down to the levels of 5024-5005-4984. Any close below 5000 level, will be a party time for bears, and we will see bulls loosing control overthe market. Closing below the levels of 4984, will create panic selling in markets. However if markets are able to sustain above 4984 level, we can expect a mild bounceback in markets in intraday. On higher side Nifty fut have res at 5128 level, if this level is crossed and sustained then we can expect some upside till the levels of 5145-5172-5190 levels. We were continuously saying since last few days that on evry rise exit from longs, and now the result is in front of you all. Hope all of you must be safe, and must be sitting with good gains.
We recommend all traders to keep watch on 4984 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 markets sustain and close below the levels of 5000, then a panic selling can come in markets which can show much lower levels till 4955-4910. So all traders must stay cautious and must not leverage positions without proper knowledge of market drections.One must not jump and do the trades in excitement in current markets, as aggressive trading in current market can lead to unexpected profit/loss. Watchout the markets cautiously and trade with strict discipline and stoploss. Dont try to speculate or time the markets. Simply trade on levels and mint money from both up-down movements of markets.
On 22January, Nifty fut have support at 5044 level, if this level is breached we will see markets sliding down to the levels of 5024-5005-4984. Any close below 5000 level, will be a party time for bears, and we will see bulls loosing control overthe market. Closing below the levels of 4984, will create panic selling in markets. However if markets are able to sustain above 4984 level, we can expect a mild bounceback in markets in intraday. On higher side Nifty fut have res at 5128 level, if this level is crossed and sustained then we can expect some upside till the levels of 5145-5172-5190 levels. We were continuously saying since last few days that on evry rise exit from longs, and now the result is in front of you all. Hope all of you must be safe, and must be sitting with good gains.
We recommend all traders to keep watch on 4984 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 markets sustain and close below the levels of 5000, then a panic selling can come in markets which can show much lower levels till 4955-4910. So all traders must stay cautious and must not leverage positions without proper knowledge of market drections.One must not jump and do the trades in excitement in current markets, as aggressive trading in current market can lead to unexpected profit/loss. Watchout the markets cautiously and trade with strict discipline and stoploss. Dont try to speculate or time the markets. Simply trade on levels and mint money from both up-down movements of markets.
Nifty Levels
Resistance - 5095-5128-5145-5172
Support -5044-5024-5005-4984
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Intraday Calls
- Raymond abv 253 tgt- 256-261-274+
- Modern Dairies abv 62 tgt-63-63.8-65
- FACT abv 68 tgt-69.2-70.5-73+
- Sell Reliance bel 1052 tgt-1040-1032-1024
- Also watch JPT securities, Fresenius Kabi, Splash Media, Bluestar.
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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