On last two trading session of the week, we witnessed Markets loosing the ground and sliping into the negative territory to close in negative due to mounting selling pressure on profit booking after sharp rise in earlier sessions. Now for the coming week Nifty fut will face resistance at 5076 level, once this level is crossed and susatined then we can see higher levels of 5095-5128-5172, on upper side 5128 will act as major resistance level and any close above this level will invite the target of 5172-5224. On the contrary, Nifty fut has support at 4935 on lower side, breaching this support level Nifty will show the lower levels of 4905-4872-4830. On deeper side 4800-4830 range will be a major support level for the markets , and any close below 4830 level will make Nifty to slide down to the levels of 4770-4730.
If nifty fut is able to hold above 4900 levels on closing basis, then once again bulls will try their luck and will try to gain some strength over bears in coming days but on upside 5128-5172 will be a resistance zone for the bulls.Nifty range for this week will be 4935-5128, breakout on eitherside will lead to sharp movement.
We recommend all traders/investors to keep watch on levels around 5128 for all their long positions, as this level can act as trend reversal level, if not crossed and sustain above this, then reverting back from these levels and breaking 4935 can show sharp downside, so all positions must be properly hedged. We might see some major movements in markets in coming days. 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 - 5076-5098-5128-5172-5224
Support - 4935-4905-4872-4830-4770
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Stocks for the week
- Viceroy Hotels
- Educomp
- Bluestar
- SPIC
- Modern Dairies
- DLF
- STC
- IOL Netcom
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Intraday calls for 25January
- JK Tyre abv 170 tgt-172-175-179+
- Chordia foods abv 51 tgt-52.5-54-55.5
- National Fertilisers abv 123 tgt-125.6-128-133
- STC abv 528 tgt-535-552-585+
- Also watch Acrysil, NMDC, Strides Arcolab, Hindustan Copper.
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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