Intraday market outlook for 9June

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•Weekly View 7-11June, CLICK HERE

On 9June, Nifty fut have support at 4930 level, if this level is breached we will see markets sliding down to the levels of 4905-4884-4842. Any close below 4930 level, will be a party time for bears, and we will see bulls loosing control over the market. Closing below the levels of 4930, will create panic selling in markets. However if markets are able to sustain above 4930 level, we can expect a bounceback in markets in intraday, we have suggested buying around 4930 in our weekly outlook also. On higher side Nifty fut have res at 4998 level, if this level is crossed and sustained then we can expect some upside till the levels of 5012-5048-5072 levels. We were continuously saying since last week that on evry rise till 5148 exit from longs and buy around 4930, and now the result is in front of you all. We also told you all in April, that the month of May-June will show sharp moves daily & will provide Nifty traders to mint unlimited money.Hope all of you must be safe, and must be sitting with good gains.

We recommend all traders to keep watch on 4930 level on lower side, as if bulls will try hard to make markets hold this level. So, shorting at lower levels is not suggested for intraday. However if markets sustain and close below the levels of 4930, then a panic selling can come in markets which can show much lower levels till 4842-4790. Nifty range will be 4930-5072 .All traders must stay cautious and must not leverage positions without proper knowledge of market directions as the movement can be deceptive and traders can be trapped on both sides. Low risk traders must stay away and others can trade with strict stoplosses.

Nifty Levels

• Resistance - 4998-5012-5048-5072
• Support - 4930-4905-4884-4842

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Intraday Calls

• Mandhana Industries abv 150 tgt-154-162-170+
• Tata Chemicals abv 309 tgt-313-316-322+
• Omnitech abv 174 tgt-178-180.5-183
• Tata Metaliks abv 128 tgt-131-134.6-139+
• Also watch Celestial Biolabs, Amrutajan, Liberty Phosphate, RNRL.

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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