Intraday market outlook for 3June

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• Weekly View 31May-4June, CLICK HERE
• Intraday market View 2June, CLICK HERE

On 3June, Nifty fut has support at 4984-4960 level and intermediate resistance at 5072 level. In current scenario markets are trading in resistance zone, so traders must stay cautious in all positions. On upside, Nifty fut has resistance at 5072 level, if it maintains above this level then we can see an upside move in markets. This upside can yield higher levels of 5098-5110-5148. But traders must stay cautious and use this rise for exiting the long positions, as the rise might fizzle out in later days. On higher levels if Nifty ft is unable to cross 5072-5148 and reverts back then on lower side, it has support at 4984 level, breaching below this level decisively can show sell off again coming in, and that can slide down Nifty fut to the levels of levels 4960-4920-4842. Any close below 4960 level will once again create panic among the investors and will be a warning bell for bulls in coming days.

We recommend all traders to keep a watch on range 4984-5072 for intraday, as this range will act as a crucial range and will decide the trend. In intraday rise dont leverage longs on higher side. Traders must keep booking profits in all trades without greed, as if now markets can show some ambiguous move. We need to close above the upper limit in order to have a small uptrend, failing to do so we markets will be in hands of bears.

Nifty Levels

• Resistance - 5072-5098-5110-5148
• Support - 5010-4984-4960-4920

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Intraday Calls

• BF Utilities abv 718 tgt-728-743-757+
• Great Eastern Shipping abv 296 tgt-301-307-315+
• Selan Expo abv 407 tgt-415-428-445+
• IFB Agro abv 93 tgt-95.5-98-103
• Also watch Mphasis, Tata Steel, Amrutanjan, Concurrent Infra.

For LIVE MARKET CALLS, Cick here.

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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