For the week starting from 10May, as we have been reiterating on yahoo since last week the resistance at 5155 level, that can be a formidable hurdle in the near-term which concludes that Nifty fut will struggle to move past 5155 level. In this week Nifty fut will face resistance at 5072 level, if bulls manage to crossover from this levels and sustain above this, then it will open doors for higher levels of 5098-5128-5155. Consecutive close above 5155, can make Nifty fut shoot upto the higher levels till 5225, but failing to cross 5155 bulls might loose the strength and bear will come into action again. However if Nifty fut reverts back from above given resitance level, then on lower side it has support at 4960 level, breaching below this and sustaining will make it slide down to the levels of 4914-4870-4845. Any consecutive close below 4960 level will make the bears come into full action again and once again we can see Nifty going to lower levels of 4870-4800.
We recommend all traders to keep watch on range 5155-4960, as this range will play a crucial role this week, and crossover of this range on eitherside on consecutive closing basis , will show sharp movements in markets. Till 4960 level is not breached, trading strategy for the markets is buy on dips-sell on rise. Bears will show real color once they manage to take markets below 4960 level. 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 watch on range 5155-4960, as this range will play a crucial role this week, and crossover of this range on eitherside on consecutive closing basis , will show sharp movements in markets. Till 4960 level is not breached, trading strategy for the markets is buy on dips-sell on rise. Bears will show real color once they manage to take markets below 4960 level. 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.
Nifty Levels
- Resistance -5072-5098-5128-5155-5225
- Support - 4984-4960-4914-4870-4840
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Stocks for the week
- Cheviot Company
- FCS Software
- International Conveyors
- Batliboi Ltd.
- Jaihind Projects
- Educomp
- RIL
- Chambal fertiliser
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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