Market outlook for the week 26-30April

For the week starting from 26April, Nifty fut will face resistance at 5355 level, once this level is crossed and susatined then we can see higher levels of 5395-5445-5522, on upper side 5395 will act as major resistance level and any close above this level will invite the target of 5445-5522. On the contrary, Nifty fut has support at 5284 on lower side, breaching this support level Nifty will show the lower levels of 5240-5202-5172. On deeper side 5240-5284 range will be a major support level for the markets , and any close below 5240 level will make Nifty to slide down to the levels of 5202-5172 in sharp move. Being a F&O expiry week volatility will be high, and so traders must stay cautious.
If nifty fut is able to hold above 5172 levels on closing basis, then once again bulls will try their luck and will try to gain some strength over bears in coming days but on upside 5355-5395 will be a resistance zone for the bulls.Nifty range for this week will be 5240-5355 & a broader range will be 5172-5445, sustainable breakout on eitherside will lead to sharp movement. Traders must stay alertedround support levels, and must not go short on lower levels, as from lower levels market can show bounce back.

We recommend all traders/investors to keep watch on levels around 5355 for all their long positions, as this level can act as trend reversal level, if not crossed and sustain above this, then reverting back from these levels and breaking 5240 can show sharp downside, so all positions must be properly hedged. We might see some major movements in markets in coming days. So all traders must stay cautious and must not leverage positions without proper knowledge of market drections.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.

Nifty Levels

• Resistance - 5355-5395-5445-5522
• Support - 5284-5240-5202-5172

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Stocks for the week

• Religare Enterprises
• Cheviot Company
• Concurrent Infra
• FCS Software
• Mirza Interntional
• ICICI Bank
• Hindalco
• Educomp

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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