Intraday market outlook for 12August

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On 12August, Nifty fut has support at 5372 level, if it holds above this level then we can see a bounceback coming in markets. In current scenario markets are trading in highly ambiguous zone. In intraday Nifty fut has resistance at 5420 level, if it sustains above this level then we can see upside yielding higher levels of 5448-5465-5484. Contrary to this, if Nifty fut is unable to cross and sustain above the given resistance level, then it will revert back to lower levels again. This recent upside will be favourable for bulls only if Nifty fut gives close above 5465 level for 2-3 consecutive days, failing to do so bulls might once again loose control and bears will take the charge over them. On lower side, if Nifty fut breaks the support level of 5372, then we can see sell off again coming in, and that can slide down Nifty fut to the levels of 5340-5314-5255 levels. Any close below 5372 level will make bears stronger and once again a bear attack can be faced by markets which will create panic among the investors and will be a warning bell for bulls in coming days.

We recommend all traders to stay cautious in range 5340-5448, as this range will act as a crucial range and will decide the trend for coming days. Intraday traders must not create fresh short positions on lower side as 5340-5372 is a support zone for nifty fut. Cautious approach must be taken for investments in Reality, Banking & Sugar sector. In coming days the movement in markets will be sharp and ambiguous, so low risk traders are advised to stay sideways. All other traders must strictly follow the levels for trades, any trade without proper advice/levels, might be a gamble.

Nifty Levels

• Resistance - 5420-5448-5465-5484
• Support - 5372-5340-5314-5255

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Intraday Calls

• Bajaj Finserv abv 459 tgt-464-475-490+
• Hitachi Home abv 362 tgt-370-382-397+
• Dabur abv 202 tgt-204-207-212
• Whirlpool abv 287 tgt-291-294-301
• Also watch PBA Infra.,Victoria Mills, SEL Manufacturing, JP Power.

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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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