Intraday market outlook for 24February

For 24 February, Nifty fut has resistance at 4884 level, if it is able to cross and sustain above this level then we can expect higher levels of 4910-4948-4972. However looking at the market sentiments it seems that at every rise there will be a profit booking till Nifty fut is not able to cross the crucial level of 4884. And so long positions must not be built up at higher levels. For a sustainable upside Nifty fut must sustain above 4948 levels, and if this happens then we will witness a massive short covering in markets which will lead to uprise. In today's trade we might witness some high volatility in markets due to the F&O expiry tomorrow. Moving on downside Nifty fut has support at 4825 level, breaching and sustaining below this level will indicate a weakness in markets and markets can tank down to 4796-4770-4755 levels. Overall scenario for markets will be buy on dips and sell on rise till nifty fut is trading in range 4770-4948. Crossover of this range on eitherside will show some sharp movement.

We recommend all traders to keep a watch on 4770-4796 level on downside, if this level is not breached and sustained, then we can expect a bounce back in markets till given resistances in later hours. So, one must not go short at lower levels unless 4770 is breached decisively.Any close below 4770 will be the first signs of bears coming back into the action. All trades must be followed by profit booking time to time and must be done with strict stoplosses. Due to F&O expiry the movement can be deceptive and traders can be trapped on both sides. Low risk traders must stay away.

Read our weekly market view, given on sunday 21Feb'10.

Nifty Levels

• Resistance - 4884-4910-4935-4948-4972
• Support - 4825-4796-4770-4755-4730

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

Intraday Calls

• TWL abv 406 tgt-413-420-434+
• Atul ltd abv 95 tgt-97-100-105+
• SRF abv 183 tgt-185-188-195
• Sell Reliance Ind bel973 tgt-965-958-953
• Also watch Indo Bonito, Monsanto Ind, Pochiraju Ind, 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.

For LIVE MARKET updates and stock calls, CLICK HERE.

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

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

To get more Cash+F&O calls for intraday+positional trades, join our PREMIUM SERVICES.

Only accuracy here!!!!

For any queries, Contact us at-
E-mail : eaib.securities@gmail.com
Mobile No.: 09935466303