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For the week starting from 12April, Nifty fut will face major resistance at 5445 level. We have mentioned the importance of 5345 level last week, and you all must have watched the significant role played by this level in the market action last week. This week 5445 level will be in lead role, and if Nifty fut manages to cross and sustain above this level then we can see higher levels of 5487-5522-5570 in coming days. Bulls have to work hard to retain their gains above 5345 level, and must close consecutively above 5445 level in order to go higher on upside and take complete charge over bears. Failing to do so, bears will gain strength will attack decisively to come back in markets. If bears anyhow manage and hold bulls below 5290 level, thenwe can see bull loosing strength. On lower side Nifty fut have support at 5320 level, and break below this level will make the scene for some profit booking action and we might see markets falling down to 5284-5224-5172. Any close below 5224, can create some panic in markets and then more lowers level can be seen.
We recommend traders to trail their stoploss for all their long positions, as markets are facing selling pressure each time it attempts to make a new high. So, long positions must be holded with trailing stoploss at every rise in markets, to conserve the profits. Nifty fut range 5290-5445, must be watched very carefully before executing any fresh trade. If Nifty fut is able to inch higher n higher, then traders must remain cautious in range 5522-5570, as from here we can witness trend reversal, and fresh long positons must not be leveraged there instead book profit and exit. Traders must be stock specific this week, rather than going for the market move because market movement can be dicy & ambiguous this week. Small caps and few mid caps can perform well in coming days. Sentimental trading must be avoided,and traders must follow the levels to trade in the markets.
For the week starting from 12April, Nifty fut will face major resistance at 5445 level. We have mentioned the importance of 5345 level last week, and you all must have watched the significant role played by this level in the market action last week. This week 5445 level will be in lead role, and if Nifty fut manages to cross and sustain above this level then we can see higher levels of 5487-5522-5570 in coming days. Bulls have to work hard to retain their gains above 5345 level, and must close consecutively above 5445 level in order to go higher on upside and take complete charge over bears. Failing to do so, bears will gain strength will attack decisively to come back in markets. If bears anyhow manage and hold bulls below 5290 level, thenwe can see bull loosing strength. On lower side Nifty fut have support at 5320 level, and break below this level will make the scene for some profit booking action and we might see markets falling down to 5284-5224-5172. Any close below 5224, can create some panic in markets and then more lowers level can be seen.
We recommend traders to trail their stoploss for all their long positions, as markets are facing selling pressure each time it attempts to make a new high. So, long positions must be holded with trailing stoploss at every rise in markets, to conserve the profits. Nifty fut range 5290-5445, must be watched very carefully before executing any fresh trade. If Nifty fut is able to inch higher n higher, then traders must remain cautious in range 5522-5570, as from here we can witness trend reversal, and fresh long positons must not be leveraged there instead book profit and exit. Traders must be stock specific this week, rather than going for the market move because market movement can be dicy & ambiguous this week. Small caps and few mid caps can perform well in coming days. Sentimental trading must be avoided,and traders must follow the levels to trade in the markets.
Nifty Levels
- Resistance - 5445-5487-5522-5570
- Support - 5320-5284-5224-5172
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Stocks for the week
- Mid-day Multimedia
- Repro Ind
- Samtel Color Ltd.
- Future Capital Holding
- Sunteck Reality
- Bartronics
- GVK Power
- KFA
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Intraday Calls for 12April
- ADSL abv 226 tgt-229-230.6-234+
- Sunteck reality abv 645 tgt-654-675-710+
- Prime focus abv 352 tgt-360-372-386
- Brescon Corporate abv 152 tgt-161-169-178
- Also watch RIL, Century Textile, Petronet, Siemens.
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