Intraday market outlook for 12March

On 12March, Nifty fut has support at 5124-5105 level and intermediate resistance at 5165 level. In current scenario markets are trading in resistance zone, so traders must stay cautious in all positions. On upside, Nifty fut has resistance at 5190 level, if it maintains to close above this level then we can see an upside move in markets in coming days. This upside can yield higher levels of 5202-5226-5260. But traders must stay cautious and use this rise for exiting the long positions, as the rise might fizzle out in later days. On higher levels if Nifty ft is unable to cross 5190 and reverts back then on lower side, it has support at 5124 level, breaching below this level decisively can show sell off again coming in, and that can slide down Nifty fut to the levels of levels 5105-5090-5060. Any close below 5090 level will once again create panic among the investors and will be a warning bell for bulls in coming days.

We recommend all traders to keep a watch on range 5090-5190 for intraday, as this range will act as a crucial range and will decide the trend for coming days. Traders must keep booking profits in all trades without greed, as if now markets can show some ambiguous move. We need to close above the upper limit in order to have a small uptrend, failing to do so we markets will be in hands of bears.

Nifty Levels

Resistance - 5165-5190-5202-5226

Support - 5124-5090-5060-5044

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Intraday Calls

• Crew BOS abv 80 tgt-81.6-83.5-87
• Raymonds abv 232 tgt-235-238-243+
• Bata Ind abv 250 tgt-255-262-271+
• Syncom health abv 118 tgt-120-123-127+
• Also watch Texmo pipes, Orbit corp.,Amtek auto, Suzlon.

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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