In last week, we witnessed Markets loosing the ground and sliping into the negative territory to close in negative due to mounting selling pressure on profit booking after sharp rise in earlier sessions. Now for the coming week Nifty fut will face resistance at 5294 level, once this level is crossed and susatined then we can see higher levels of 5315-5365-5445, on upper side 5365 will act as major resistance level and any close above this level will invite bulls for a fresh rally. On the contrary to upside, Nifty fut has support at 5238 on lower side, breaching this support level Nifty will show the lower levels of 5184-5130-5080. On deeper side 5080-5130 range will be a major support level for the markets , and any close below 5080 level will make Nifty to slide down to the levels of 4980-4840. If nifty fut is able to hold above 5130 levels on closing basis, then once again bulls will try their luck and will try to gain some strength over bears in coming days but on upside 5294-5335 will be a resistance zone for the bulls. Nifty range for this week will be 5130-5294, decisive breakout on eitherside will lead to sharp movement.
Concluding the whole market view, we can say that major triggers for the Nifty fut for this week are 5238-5130 on lower side and 5294-5335 on upper side, breaking on eitherside will lead Nifty to move further on that side. Any major movement in markets will come only after, breaking the range of 5130-5335 on consecutive closing basis. One must not jump and do the trades in excitement in current markets, as aggressive trading in current market can lead to unexpected profit/loss. Watchout the markets cautiously and trade with strict discipline and stoploss. Dont try to speculate or time the markets. Simply trade on levels and mint money from both up-down movements of markets.
Concluding the whole market view, we can say that major triggers for the Nifty fut for this week are 5238-5130 on lower side and 5294-5335 on upper side, breaking on eitherside will lead Nifty to move further on that side. Any major movement in markets will come only after, breaking the range of 5130-5335 on consecutive closing basis. One must not jump and do the trades in excitement in current markets, as aggressive trading in current market can lead to unexpected profit/loss. Watchout the markets cautiously and trade with strict discipline and stoploss. Dont try to speculate or time the markets. Simply trade on levels and mint money from both up-down movements of markets.
Nifty Levels
- Resistance - 5272-5294-5315-5365-5445
- Support - 5238-5184-5130-5080-4980
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Stocks for the week
- NFL
- DCHL
- Vikas WSP Ltd
- Ruchi Soya
- Edserv Softsystems
- Hanung Toys
- Bosch Ltd
- Manugraph India
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