Market outlook for the week 8-11February

As usual, our market view going 100% accurate even in volatile markets and Nifty following our levels and making you all earn in any kind of market. The Market view provided by us last week, also turned out to be 100% accurate. Our habit of predicting accurate market view must have become an addiction for all of you visiting here. Keep minting money with us, in any kind of market. We always say, dont go with bulls/bears, stay with levels and earn in both kind of markets.

Nifty has managed to close above 4755 last week, another weekly close above this level would possibly open higher targets in coming days. Nifty fut will face resistance at 4830, once it crosses and sustain above these levels, we can see markets surging upto the levels of 4830-4884-4935+. However the range of 4900-5000 will be of high resistance as indicated by the Options data analysis. Once Nifty fut starts trading and sustaining above 4884, we can see dead bears all round and bulls will take the charge over markets and will make markets inch higher upto 4965-5048 levels. But looking at the current scenario, traders must not leverage positions at higher levels, as the higher levels will face stiff selling pressure. However contrary to this if markets are unable to cross the resistance levels and reverts back from 4830 levels, then we can see some profit booking coming into the markets again and market can slide down to the levels of 4730-4665-4545. In Medium term Nifty fut has good support at 4545, and break below this level can show some weakness in markets for longer time and then one can expect much lower levels. Nifty range for this week will be 4665-4830, breakout on either side will lead to sharp movements.

We recommend traders to keep booking profits at every rise, as markets are facing selling pressure each time it attempts to inch higher. So, traders must buy on every dip till Nifty fut is trading abv 4665 level & long positions must be exited at every rise, to conserve the profits. Nifty fut range 4665-4830, must be watched very carefully before executing any fresh trade. Breakout on higher side with high volumes can unexpectedly change the current scenario in favour of bulls. Sentmental trading must be avoided, and traders must follow the levels to trade in the markets.

Nifty Levels

• Resistance - 4830-4884-4935-4965-5048
• Support - 4730-4665-4545-4480-4420

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Stocks for the week

• Ashiana Ispat
• Jai Corporation
• Grindwell Norton
• Decolight Ceramics
• SPIC
• KFA
• Joonktollee Tea
• Educomp

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Intraday calls for 8February

• Educomp abv 665 tgt-672-684-695+
• DFM Foods abv 50.75 tgt-53-54.5-57+
• Indraprastha Gas abv 236 tgt-242-250-265+
• Asian Hotel abv 518 tgt-524-531-545
• Also watch MLL, Gujarat Gas, Tulsyan NEC, GAIL.

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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