On 19March, Nifty fut will face resistance at 5285 level, once this level is crossed , then expect a bounce back till level 5310-5335. If bulls are able to retain their gains above 5285 level, then we can se another rally of 50-125pts on Nifty. However market will face selliing pressure at higher levels as now investors are afraid of the bear attack any time so on upside markets will be volatile. If Nifty fut is unable to sustain above 5285 level for some time, we will see it reversing from that level to lower levels again. On downside it has support at 5220 level, breaching this level will once again make marets to slide down further to more lower levels of 5202-5190-5160. Traders must watch the level of 5184 on closing basis, if market closes below this level than that will surely favor the bears only.
We recommend traders to keep booking profits at every rise, as markets are facing selling pressure each time it attempts to make a new high, and is unable to close above 5285 levels for. So, long positions must be exited at every rise, to conserve the profits. Traders must be stock specific, rather than going for the market move because market movement can be dicy & ambiguous in coming days also. Small caps and few mid caps can perform well in coming days. Sentmental trading must be avoided,and traders must follow the levels to trade in the markets .
Nifty Levels
- Resistance - 5285-5310-5335-5370
- Support - 5220-5202-5190-5160
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Intraday Calls
- Hanung Toys abv 182 tgt-185-190-194
- S E Investment abv 576 tgt-582-594-610+
- Tulsi Extrusion abv 30 tgt-31-32.5-34+
- Maharashtra Scooter abv 370 tgt-373-378-384
- Also watch AVT Natural, Rossell Tea, Liberty Phosphate, SBI.
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