On 5 March, Nifty fut will face resistance at 5110 level, this level will be the first hurdle for bulls on upside and in order to retain their gains bulls have to decisively cross and sustain above this level. Once they manages to sustain above this level,we can see higher levels of 5128-5145-5190 in markets. However, if bulls fail to sustain above the resistance level of 5124, then profit sudden booking can come and bears will try hard to take the charge over bulls and slide down the markets. On lower side Nifty fut have support at 5065, if this level is breached then we can see 5048-5020-5005 levels in markets in short time. Any close below 5020 level, will be energy booster for bears and that can make markets to slide down further 70-100pts. Intraday range for the markets will be 5048-5128, breakout of this range decisively, will clear the trend for coming week.
We recommend all traders to stay cautious in range 5110-5128, as this will be the crucial range for intraday on upside. As we have said earlier also, leveraging long positions on higher levels wont be a wise decision, so on higher levels keep booking profits only. If Nifty fut is unable to cross and sustain above 5128 level, the it will be favourable in intraday for bears only. Markets will be highly volatile and will show ambiguous moves. So, traders must trade on both sides and mint money bi-directionally rather than waiting for unidirectional sentimental targets.
Nifty Levels
- Resistance - 5110-5128-5145-5190
- Support - 5065-5048-5020-5005
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Intraday Calls
- Sesa Goa abv 459 tgt-465-470-478+
- Sulzer Ind abv 1038 tgt-1054-1075-1115+
- Syncom Healthcare abv 111 tgt-114-117-124
- EKC abv 124 tgt-128-133-137.7 +
- Also watch BF Utilities, Kalptaru Papers, International Travel , PVR.
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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