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Tuesday, August 24, 2010

Intraday market outlook for 24August

On 24August keep a watch on support of 5495 level, break below this level will take Nifty fut to 5475-5445-5410 levels sharply. However a good support exist in range 5445-5475 on lower side and this range will act as a barrier for bear party. Any close below 5445 level will open doors for bears to take charge over the market and will make bulls out of the scenario. If Nifty fut is able to sustain above support levels of 5475, then again expect a bounce back in market. Moving on the upside Nifty fut have resistance at 5552 level, crossover from this level will take nifty to 5567-5590-5618 levels. For further upside Nifty fut has to give closing above 5552 level. The max time markets are sustaining below 5552 level, it will weaken the bulls and will encourage the bears to attack again and again. Till august expiry we can witness an unexpected unidirectional sharp move in markets, so stay hedged with all your long/short positions.

We recommend all traders to buy on dips and sell on rise till Nifty fut is moving in range 5475-5590. If you are not aware of levels and direction of markets, try to square off the trades as early as possible, and take home the profits rather than stucking your money in positional trades. Market movement will be highly volatile with stock specific movement.These stocks can spurt in coming days. Only traders who have patience buy on dips and keep booking profits at every rise, impatient and lowrisk traders can stay away from markets as in coming days we ar going to see highly volatile moves.

Please dont ask for PAID TRIAL/FREE TRIAL, as already we are giving TRIAL CALLS FREE OF COST daily to all members here and also on SMS Group, and all calls giving profits in truckload, but even then we get hundreds of requests daily for TRIAL .

Nifty Levels

  • Resistance - 5552-5567-5590-5610
  • Support - 5495-5475-5445-5410

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Intraday calls

  • BRFL abv 263 tgt-265-267.5-271+
  • SEL Manufacturing abv 47.5 tgt-49-52-56
  • Cipla abv 318 tgt-321.5-325-330
  • DS Kulkarni abv 87 tgt-91-94-102
  • Also watch J.K.Agri , Victoria Mills, Hinduja Ventures, Nalwa Sons.

For LIVE MARKET CALLS, Click here.

For all trades, keep trailing your stoploss once the stock is above the buying price. Don't take delivery of any intraday call. Avoid spike buying.

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