Intraday market outlook for 6January

On 6January, Nifty fut will face resistance at 5294 level, once this level is crosses and sustained for some time , we will see markets to go to higher levels of 5315-5332-5370 levels. Bulls have to try hard to cross n sustain above the resistance level of 5315, unable to do so, bears will attack decisively and will make all possible efforts to drag down the markets. However, on lower side now 5245 is support level. Any good news for bears will come only if the Nifty fut, breaches and sustains below 5245 mark, and if it happens we can see markets sliding down to 5220-5202-5180 levels. On lower side, 5130 level again being a very good support for the markets, and till Nifty fut is trading above this level, all dips can be used for strategy of buy on dips and sell on rise. Any close below 5130 level, will be the first sign of bears making grip on markets.

We recommend all traders to watch the range 5245-5315, as breakout of this range will be a crucial action for markets, and crossover of this range on eitherside on cosing basis will decide the further market trend. Looking at the market scenario, it seems that all long positions should be booked at every rise above 5300 level, and must be re-entered at lower levels. Stay cautious on higher levels.

Nifty Levels
Resistance - 5294-5315-5332-5370
Support -5245-5220-5202-5180

==================================

Intraday Calls

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.

For LIVE MARKET updates and stock calls, CLICK HERE.

====================================

For live market updates and stock calls, add our yahoo id- eaibsecurities@yahoo.com

Note- To Get all calls on mobile through SMS, Join our groups, FULTOOMASTI & EAIB Securities . Join both groups.

To know the exact trading entry-exit levels, and complete trading strategy, join our PREMIUM SERVICES.

Only accuracy here!!!!