On 18May, Nifty fut will face resistance at 5094 level, if this level is crossed with high volumes and Nifty fut is able to sustain above this level,then we can see an upside in nifty till 5110-5128-5155. For every rise in coming days above 5128 level, we recommend all members not to leverage positions, instead keep booking your longs above this level. Overall sentiments for market still not strong, the current uprise is due to the pullback rally only. So, use every rise for profit booking, and not for leveraging long positions. On the lower side Nifty has support at 5020 level, if this level is breached and sustained then we can again see nifty touching 4960-4914 levels
For a sustainable uprise in coming days, Nifty fut must close consecutively above 5228 level. Till Nifty fut is unable to do so, bears will continue to attack decisively at every rise. More the time Nifty fut remains below 5228, more the bears will become strong and will take charge completely if Nifty fut breaches the level of 4960. So in order to have an upperhand in market, bulls have to manage to cross & sustain above 5228 at earliest. Nifty fut range for the day will be 4960-5128, breakout of this range on either side can show sharp movements. Follow the strategy of - buy on dips-sell on rise.... in this range.
For a sustainable uprise in coming days, Nifty fut must close consecutively above 5228 level. Till Nifty fut is unable to do so, bears will continue to attack decisively at every rise. More the time Nifty fut remains below 5228, more the bears will become strong and will take charge completely if Nifty fut breaches the level of 4960. So in order to have an upperhand in market, bulls have to manage to cross & sustain above 5228 at earliest. Nifty fut range for the day will be 4960-5128, breakout of this range on either side can show sharp movements. Follow the strategy of - buy on dips-sell on rise.... in this range.
Nifty Levels
Resistance - 5094-5110-5128-5155
Support - 5020-4980-4960-4914
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Intraday Calls
- Omnitech Infosolution abv 175 tgt-178-180-185+
- Victoria Mills abv 3655 tgt-3700-3743-3876+
- ADSL abv 225 tgt-229-234-242
- Patel Engineering abv 426 tgt-432-435-442+
- Also watch Hitachi Home, Liberty Phosphate, Maharashtra Scooters, Precision Wires.
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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