On the upside movement, the major hurdle for bulls is at 5465 level on closing basis, which is not been crossed since weeks and this level is now a barrier for an explosive up move. However for intraday an intermediate resistance is at 5484 level also. Taking the broader side, if Nifty manages to cross & hold above 5484 level (& gives closing above 5465) then one should pack the bags for a upside ride & we can see levels of 5524-5552-5575. In the meantime the more time Nifty fut trades below 5484 and is unable to cross this, the more it will become harder for bulls to cross it in coming days, so all traders must trade with levels and not with sentiments. If bears are able to hold nifty on downside below 5484 level for 1-2 days on closing basis, then in coming days we can expect some sharp downside movement in markets. In intraday today Nifty fut have support at 5448 level, breaching this level markets can tank down to 5420-5402-5390. However, if today bulls manage to gain strength and comes up again above 5465 level on closing basis, then it will favour the bulls in coming days, but one must not get trapped in this rally & must not create fresh longs at higher levels, as this rally can fizzle out any time sharply.
In coming days we can see some crucial and unexpected moves in markets, so all traders must stay hedged properly for all their long/short positions. In current scenario, trading with the levels is the best thing to mint money. Those who run behind the expiry targets,day closing targets etc etc , will be trapped badly and will miss the opportunity to earn profits from both up-down sides of markets. After sustaining above 5400 levels for many days, bulls are having high hopes and now only major hurdle is closing above 5465, and once its done , we will see bulls taking a rocket ride of 50-95pts with a support at 5420 levels. So all traders must keep a watch on these levels and must trade accordingly with their own wisdom.
In coming days we can see some crucial and unexpected moves in markets, so all traders must stay hedged properly for all their long/short positions. In current scenario, trading with the levels is the best thing to mint money. Those who run behind the expiry targets,day closing targets etc etc , will be trapped badly and will miss the opportunity to earn profits from both up-down sides of markets. After sustaining above 5400 levels for many days, bulls are having high hopes and now only major hurdle is closing above 5465, and once its done , we will see bulls taking a rocket ride of 50-95pts with a support at 5420 levels. So all traders must keep a watch on these levels and must trade accordingly with their own wisdom.
Nifty Levels
- Resistance - 5484-5492-5524-5552
- Support - 5448-5420-5402-5390
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Intraday Calls
- Genesys International abv 215 tgt-218-224-235
- Talwalkar's Better Value abv 207 tgt-212-218-228
- Jubilant foodworks abv 406 tgt-410-415-424+
- Cera Sanitaryware abv 324 tgt-328-335-344
- Also watch Prime Focus, MMTC, Indraprastha Gas, Rishi Laser.
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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