As usual, our market view going 100% accurate even in volatile markets and Nifty following our levels and making you all earn in any kind of market. The Market view provided by us last week, also turned out to be 100% accurate. Our habit of predicting accurate market view must have become an addiction for all of you visiting here. Keep minting money with us, in any kind of market. We always say, dont go with bulls/bears, stay with levels and earn in both kind of markets.
For the week starting from 30August, Nifty fut will face resistance at 5475 level, this level will be the first hurdle for bulls on upside and in order to retain their previous gains bulls have to decisively cross and sustain above this level. Once they manages to sustain above this level,we can see higher levels of 5537-5552-5590 in markets. If in coming days, we see markets sustaining above the level of 5475 and giving consecutive close above this level, then we can expect a sharp upside of 80-125pts once again. However, if bulls fail to sustain above the resistance level of 5475, then bears will try hard to take the charge over bulls and slide down the markets. On lower side Nifty fut have support at 5372 (we have told importance of this level in earlier week also in our broader range of nifty) , if this level is breached then we can see 5340-5314-5255 levels in markets in short time. Any close below 5340 level, will be energy booster for bears and that can make markets to slide down further to the crucial support of 5255-5220 levels.
We recommend traders to trail their stoploss for all their long positions, as markets are facing selling pressure each time it attempts to make a new high. Till Nifty fut is sustaining above 5340 level, every dip can be used for buying & fresh longs positions can be created only if market sustains above 5340 level. Immediate Nifty fut range 5372-5475 & a brodaer range of 5340-5590, must be watched very carefully before executing any fresh trade. Traders must be stock specific this week, rather than going for the market move because market movement can be dicy & ambiguous this week. Small caps and few mid caps can perform well in coming days. Sentimental trading must be avoided,and traders must follow the levels to trade in the markets.
Nifty Levels
- Resistance - 5475-5537-5552-5590
- Support - 5372-5340-5314-5255
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Stocks for the week
- Jyoti Resins
- Hinduja Ventures
- Precision Pipes
- SELMCL
- Adani Enterprise
- Educomp
- SPEL Semiconductor
- Capman Financials
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Intraday Calls for 30August
- FDC abv 105.5 tgt-109-114-118+
- Nestle abv 3065 tgt-3090-3118-3157+
- Uniply abv 16.5 tgt-16.9-17.5-18
- Century Plyboard arnd 71 tgt-73-74.6-77+
- Also watch Reliance, Symphony ltd, Transpek Ind, ONGC.
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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