For the week starting from 22February, Nity fut will face resistance at 4890-4935 levels, once Nifty fut crosses and sustains above this level, we can see bulls once again gearing up to move forward and take markets to higher levels of 4972-5048-5090. In this upmove one must once again be careful at higher levels, as if the range around 4935-5048 will be a resistane zone and will try to hault down the bulls. In order to move for a upside rally in coming days, bulls must have to retain the gains above 4935 levels. However if bulls fail to cross & susain above the resistance level of 4890-4935, we can see bears taking charge over the bulls and drag down the markets. On lower side Nifty fut have support at 4805 level, if this level is breached & sustained then bears will make all possible efforts to take markets to 4770-4730-4665 levels. If bears are able to close the markets consecutively below 4770 level, then everyone must get ready for some sharp downside action in the markets. The week will witness some action packed fight between bulls & bears to take the charge for complete upcoming month. Taking the broader view for markets for coming month the major triggering levels will be 4665-5145, breaching these levels on consecutive closing basis will change the market sentiments for a longer period.
We recommend all tradersto stay cautious in current market, as trading in this marke without any knowledge/ advice of market directions can be a lossing game all in all, so a good advice is the basic need for minting money from this market. In this week traders muct watch the range 4770-5048, breakout of this range will decide the further movement and will show some sharp movement. All traders must keep booking profits at every rise in markets, till the market is able to hold above the levels of 5048 and on lower side if the markets breaks & close below 4770 , one must get alerted for all long positions. Get ready for a sharp & deceptive moves in markets in coming days. A broader range for the markets will be 4665-5145.
We recommend all tradersto stay cautious in current market, as trading in this marke without any knowledge/ advice of market directions can be a lossing game all in all, so a good advice is the basic need for minting money from this market. In this week traders muct watch the range 4770-5048, breakout of this range will decide the further movement and will show some sharp movement. All traders must keep booking profits at every rise in markets, till the market is able to hold above the levels of 5048 and on lower side if the markets breaks & close below 4770 , one must get alerted for all long positions. Get ready for a sharp & deceptive moves in markets in coming days. A broader range for the markets will be 4665-5145.
Nifty Levels
Resistance - 4890-4935-4972-5048-5090
Support - 4805-4770-4730-4665-4545
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Stocks for the week
- AML Steel
- Ashiana Ispat
- OCL Iron
- Pidilite Ind
- Jindal Steel & Power
- Educomp
- Swastika Investmart
- Sun Pharmaceutical
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Intraday Calls
- Rungta Irrigation abv 41.2 tgt-41.8-42.5-44+
- Shree Global Tradefin abv 246 tgt-250-254-263+
- Usha martin abv 87 tgt-88.5-90.4-93+
- Ranbaxy abv 444 tgt-447-452-459+
- Also watch Dutron Polymers, STC, ABG Shipyard, Glaxo.
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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