Market outlook for the week 22-26March

For the week starting from 22March, as we have been reiterating the resistance at 5315 level, that can be a formidable hurdle in the near-term which concludes that Nifty fut will struggle to move past 5315 level. In this week Nifty fut will face resistance at 5294-5315 level, if bulls manage to crossover from this levels and sustain above this, then it will open doors for higher levels of 5345-5374-5445. Consecutive close above 5315, can make Nifty fut shoot upto the higher levels, on the contrary failing to cross 5315 bulls might loose the strength and bear will come into action. However if Nifty fut reverts back from above given resitance level, then on lower side it has support at 5220 level, breaching below this and sustaining will make it slide down to the levels of 5188-5154-5130 ,any further slide below 5130 level will make the bears come into full action again and once again we can see Nifty going to lower levels of 5070-5044.All long/short positions must be hedged properly to save hard earned money, and leveraging on any one side must be avoided. As markets are showing volatility, members who are unaware of the market direction, are advised to trade with good short term investment stocks in order to earn profits.

We recommend all traders to keep a watch on 5220-5315 range for all their short/long positions. Looking at the current scenario, we can say that till Nifty is not breaking 5220 level on downside and trading above this level, bulls will be having an upperhand & markets will keep bouncing back from lows and so one can use dips to buy. However, cautious approach must be there while trading in current markets, as the volatility and market movement can be sharp in coming days. So a wise trading strategy will be like- All uprise till 5310 can be used for profit booking only, and not for taking fresh long positions and on downside one can keep buying till Nifty fut is sustaining above 5220 levels. Any major movement in markets will come only after, breaking the range of 5220-5315 on consecutive closing basis. One must not jump and do the trades in excitement in current markets, as aggressive trading in current market can lead to unexpected profit/loss. Watchout the markets cautiously and trade with strict discipline and stoploss. Dont try to speculate or time the markets. Simply trade on levels and mint money from both up-down movements of markets

NiftyLevels
Resistance - 5315- 5345-5374-5445
Support - 5220-5188-5154-5130

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Stocks for the week

• Weizmann Ltd.
• Texmo Pipes
• Tulsi Extrusion
• Indo Asian Fusegear
• Maharashtra Scooter
• MLL
• GMR Infra
• Cairn

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Intraday Calls

• Kirloskar Oil abv 175 tgt-178-180.4-186+
• Firstobject Technologies abv 30 tgt-30.6-31-32+
• S Kumars Nationwide abv 65 tgt-67-69.2-73+
• AVT Natural abv 95.5 tgt-96.8-99-102+
• Also watch Shyam Telecom, Lyka labs, Nippo Batteries, EKC.

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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