In our weekly market view we clearly and boldly told to buy Nifty around 4930 level, and also gave upper limit for the range as 5148. Have you all read that?? Have you bought Nifty fut around 4930?? If yes then you will be sitting on money mountain now, and If you havent read that and havent bought, then now the only thing you can do is to repent. Team EAIB provides you all the most accurate and money minting market view well in tim, so that the members can njoy money rain in all kind of markets.
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Read what we said in our weekly view and intraday market view for yesterday-
On 11June, Nifty fut have resistance at 5126 level, once it manages to cross and sustain above this level we can see it inching up to the levels of 5148- 5170-5205 levels. Bulls will try to hold the market above 5148 levels, however on higher side around 5170-5190 levels, bears can come up and attack decisively to weaken bulls, so traders must stay cautious in this range. In order to retain the uptrend bulls have to sustain and close above 5148 level. If bears are able to drag down the market from higher levels, then on downside Nifty fut have support at 5080 level, if this level is breached and sustained then lower levels of 5062-5030-5002 levels. Traders must not leverage positions at higher level.
We recommend all traders to stay cautious in range 5080-5190, as breakout of this range canshow some sharp market movement. On upside if 5148-5170 level is not sustained , then sell off can come in markets. Traders must avoid creating fresh long positions on higher side of the range. In the current scenario traders must follow level trading rather than going for sentimental trading, as sentimental trading can trigger your stoplosses on both sides of movement. Markets will show sharp movement in coming days, so trade with discipiline and patience. Dont jump n trade.
Nifty Levels
- Resistance - 5126-5148-5170-5205
- Support - 5080-5062-5030-5002
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Intraday calls
- Jindal Steel & Power abv 631 tgt-635-641-652
- Crompton Greaves abv 242 tgt-246-251-258+
- Insecticides Ltd abv 186 tgt-192-199-210+
- Amrutajan abv 778 tgt-786-795-802
- Also watch Neha International, United Phosphorus, Orchid Chemical, Hindustan Zinc.
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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