On 31August, Nifty fut will face resistance at 5448 level, crossing and sustaining above this level will make Nifty fut move forward on upside, and on way to upside it can move forward to 5465-5480-5524 levels. However 5480 level, will act as a major hurdle on upside, and in order to make Nifty surge upto new recent highs, before the final correction takes place, Nifty has to sustain and close above 5480 level. In this volatile sessions, if nifty fut is unable to cross the resistance level, and goes on downside, then it has a support at 5395 level, breaching below this level we can see Nifty fut sliding down to the levels of 5372-5340-5314. However 5340 level can act as good support level on downside, and also as a sentimental level for all traders.
We recommend all traders to trade with strict stoplosses and keep booking small profits in daytrade, as the range for daytrade in Nifty is very narrow and we can see W-shaped movement in markets. For intraday keep watch on 5372 level on lower side and 5465 level on upside,as these levels can act as trend reversal levels. Any upsurge will be only if nifty sustains above 5480 level. In coming days get ready for sharp oneside movement in markets. Insider sources suggest some sudden sharp movement to come in coming days. Do your own study, and execute the trades as per your wisdom.
Nifty Levels
- Resistance- 5448-5465-5480-5524
- Support - 5395-5372-5340-5314
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Intraday Calls
- Aqua Logistics abv 632 tgt-643-654-676
- Rainbow Papers abv 48.7 tgt-50.5-52-55
- Pantaloon abv 470 tgt-478-485-490+
- Glodyne Tech. abv 935 tgt-947-965-988+
- Also watch FDC, Sandur Manganese, Century Plyboard, Wockhardt.
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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