On 4August, Nifty fut will face resistance at 5465 levels, once Nifty fut crosses and sustains above this level, we can see bulls once again gearing up to move forward and take markets to higher levels of 5484-5492-5524. In this upmove one must once again be careful at higher levels, as at higher levels there will be a resistane zone and bears will try to hault down the bulls. And in order to move for a highs in coming days, bulls must have to retain the gains above 5465 levels. However if bulls fail to cross & susain above the resistance level of 5465, we can see bears taking charge over the bulls and drag down the markets. On lower side Nifty fut have support at 5410 level, if this level is breached & sustained then bears will make all possible efforts to take markets to 5390-5372-5340 levels. If bears are able to close the markets consecutively below 5372 level, then everyone must get ready for some sharp downside action in the markets.
We recommend all traders to stay cautious in current market, as trading in this marke without any knowledge/advice of market directions can be a lossing game all in all, so a good advice is the basic need for minting money from this market. We suggest all traders to keep a sharp watch on range 5372-5465, as breakout of this range on eiter side will show some sharp moves in markets. In intraday, on upside 5465 will act as a barrier, so all shorters must keep this level in mind and can use this as a stoploss, on the contrary bulls must keep watch on 5410 level for their positions.
We recommend all traders to stay cautious in current market, as trading in this marke without any knowledge/advice of market directions can be a lossing game all in all, so a good advice is the basic need for minting money from this market. We suggest all traders to keep a sharp watch on range 5372-5465, as breakout of this range on eiter side will show some sharp moves in markets. In intraday, on upside 5465 will act as a barrier, so all shorters must keep this level in mind and can use this as a stoploss, on the contrary bulls must keep watch on 5410 level for their positions.
Nifty Levels
- Resistance - 5465-5484-5492-5524
- Support - 5410-5390-5372-5340
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Intraday Calls
- Orchid Chemical abv 192 tgt-195-197-202
- JK Paper abv 60 tgt-62-64.3-67+
- Patni Computer abv 468 tgt-471-475-478
- DCHL abv 134 tgt-138-140.7-143
- Also watch Jai Corp. ,Omnitech, MMTC, Lumax Automotive.
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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