Last week we clearly wrote that,5130 level is the support for Nifty fut and till this level is not breached by bears, bulls will be having an upperhand and markets will keep bouncing up. And you all must have watched Nifty fut not breaking 5130 level on downside, and crossed the hurdle of 5228 and touching the level of 5310, against our major hurdle of 5315. Nifty fut was unable to sustain above 5315,even for few minutes and as a result market traded in range 5130-5315 whole week.We suggested everyont to book longs above 5300 level, and as mentioned Nifty fut made 5310 high, and then came down to 5236 levels. Those who are following us, minting massive gains from our market view and stock tips. Once again Team EAIB, provided you all with the highly accurate market analysis and money minting stocks.
For the week starting from 11January, as we have been reiterating the resistance at 5370 level, that can be a formidable hurdle in the near-term which concludes that Nifty fut will struggle to move past 5370 level. In this week Nifty fut will face resistance at 5294-5315 level, if bulls manage to crossover from this levels and sustain above this, then it will open doors for higher levels of 5334-5370-5445. Consecutive close above 5315, can make Nifty fut shoot upto the higher levels, failing to cross 5315 bulls might loose the strength and bear will come into action. However if Nifty fut reverts back from above given resitance level, then on lower side it has support at 5220 level, breaching below this and sustaining will make it slide down to the levels of 5180-5165-5130 ,any further slide below 5130 level will make the bears come into full action again and once again we can see Nifty going to lower levels of 5070-5044.
We recommend all traders to keep a watch on 5165-5335 range , and a broader range of 5130-5370 , for all their short/long positions. Looking at the current scenario, we can say that till Nifty is not breaking 5130 level on downside and trading above this level, bulls will be having an upperhand & markets will keep bouncing back from lows and so one can use dips to buy. However, cautious approach must be there while trading in current markets, as the volatility and market movement can be sharp in coming days. So a wise trading strategy will be like- All uprise till 5370 can be used for profit booking only, and not for taking fresh long positions and on downside one can keep buying till Nifty fut is sustaining above 5130 levels. Any major movement in markets will come only after, breaking the range of 5130-5370 on consecutive closig basis. 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.
For the week starting from 11January, as we have been reiterating the resistance at 5370 level, that can be a formidable hurdle in the near-term which concludes that Nifty fut will struggle to move past 5370 level. In this week Nifty fut will face resistance at 5294-5315 level, if bulls manage to crossover from this levels and sustain above this, then it will open doors for higher levels of 5334-5370-5445. Consecutive close above 5315, can make Nifty fut shoot upto the higher levels, failing to cross 5315 bulls might loose the strength and bear will come into action. However if Nifty fut reverts back from above given resitance level, then on lower side it has support at 5220 level, breaching below this and sustaining will make it slide down to the levels of 5180-5165-5130 ,any further slide below 5130 level will make the bears come into full action again and once again we can see Nifty going to lower levels of 5070-5044.
We recommend all traders to keep a watch on 5165-5335 range , and a broader range of 5130-5370 , for all their short/long positions. Looking at the current scenario, we can say that till Nifty is not breaking 5130 level on downside and trading above this level, bulls will be having an upperhand & markets will keep bouncing back from lows and so one can use dips to buy. However, cautious approach must be there while trading in current markets, as the volatility and market movement can be sharp in coming days. So a wise trading strategy will be like- All uprise till 5370 can be used for profit booking only, and not for taking fresh long positions and on downside one can keep buying till Nifty fut is sustaining above 5130 levels. Any major movement in markets will come only after, breaking the range of 5130-5370 on consecutive closig basis. 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 Weekly Levels
- Resistance - 5294-5315-5335-5370-5445
- Support - 5220-5180-5165-5130-5070
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Stocks for the week
- English Indian Clay
- Oil India
- Indowind Energy
- Goldstone Infra
- Cranes Software
- Cords Cable Ind.
- Nakoda Textiles
- JSW Holding
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Intraday Calls 11January
- IRB Infra abv 263 tgt-267-272-278+
- Ritesh Properties abv 20.7 tgt-21.5-22.8-24.3
- Reliance ind abv 1105 tgt-1115-1124-1148 (major hurdle 1125, sup-1088)
- Hindustan Dorr abv178 tgt-181-183.3-186
- Also watch REI Agro, BF Utilities, Goodluck Steel, EKC.
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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