On 2 July, Nifty is having resistance at 5294 level, if Nifty fut manages to sustain above this level, then we can see Nifty again marching up to higher levels of 5315-5335-5365. On the contrary to upside, on downside Nifty fut have support at 5238, if it sustains below this level then we can see Nifty sliding down to 5210-5184-5130 levels. In intraday scenario bulls are having an upperhand till Nifty fut is sustaining above 5210, so at lower levels traders must use the lowerside for accumulation instead of creating short positions. However on higher side 5294-5315 level will act as hudles, and if markets are unable to sustain above these levels then Nifty can see fresh selling pressure coming in. In the curent markets one must be trading with the levels, and not the sentiments, as market is highly volatile and make traders hit stoploss on both longs and shorts. So, always try to follow the levels and trade accordingly with your own wisdom.
We recommend all intraday traders to keep watch on 5210 level on lower side and 5315 level on upper side, for the long/short positions. These levels can play crucial roles in the market frcoming days. Market movement will be ambiguous, and so one must not leverage positions or do speculative trading.
We recommend all intraday traders to keep watch on 5210 level on lower side and 5315 level on upper side, for the long/short positions. These levels can play crucial roles in the market frcoming days. Market movement will be ambiguous, and so one must not leverage positions or do speculative trading.
Nifty Levels
- Resistance - 5294-5315-5335-5365
- Support - 5238-5210-5184-5130
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Intraday Calls
- Buy Amrutanjan abv 755 tgt-765-772-788+
- Buy Infosys arnd 2720 tgt-2732-2744-2758+
- Sell Reliance Ind arnd 1085 tgt-1078-1067-1056
- Buy Nagarjuna fertiliser abv 31.5 tgt-32.2-33-34
- Also watch Andrew Yule, DCHL, JP Power, Mastek.
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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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