Intraday market outlook for 22June

On 22 June , Nifty fut will face resistance at 5388 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 5400-5445 levels. For every rise in coming days above 5365 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 up rise is due to the sentimental pullback rally only. So, use every rise for profit booking, and not for leveraging long positions on higher side. On the lower side Nifty has support at 5340 level , if this level is breached and sustained then we can again see nifty touching 5316-5290-5272 levels .

For a sustainable up rise in coming days, Nifty fut must close consecutively above 5388 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 5388, more the bears will become strong and will take charge completely if Nifty fut breaches the level of 5272. So in order to have an upper hand in market, bulls have to manage to cross & sustain above 5388 at earliest. Nifty fut range for the day will be 5272-5388, breakout of this range on either side can show sharp movements. From the current levels, upside in markets seems to be of lower limit and downside has a wide limit, so traders must use wisdom to trade in this markets. Trading with sentiments & without using wisdom, can lead to unexpected profit/loss. Stay cautious & trade safely.

Nifty Levels

• Resistance - 5388-5400-5445-5492
• Support - 5340-5316-5290-5272

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Intraday Calls

• Melstar Information abv 11.8 tgt-12.2-13.1-13.6
• GNFC abv 107.5 tgt-109-112-116+
• Mahindra Lifespace abv 470 tgt-478-487-504+
• JP Power arnd 69 tgt-71.6-72.5-75
• Also watch Aqua Logistics, Amrutanjan, Velan Hotels, Greenply Industries.

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For all trades, keep trailing your stop loss once the stock is above the buying price. Don't take delivery of any intraday call. Avoid spike buying.

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