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Yesterday we all watched the rocket move of markets. There was NO reason… not fundamentally or technically that could explain the massive move up we had in last few days. This was done for one reason.....to rob the bears! Many traders were hurt very badly during that ramp job. There were a few brave one’s who were long in the market, and they are rewarded greatly. Now in terms of retail trader, this market is so rigged that virtually impossible to get a clear direction of where the next trend is going to be? Of course that’s exactly how manipulators planned it… to confuse everyone.
Yesterday we all watched the rocket move of markets. There was NO reason… not fundamentally or technically that could explain the massive move up we had in last few days. This was done for one reason.....to rob the bears! Many traders were hurt very badly during that ramp job. There were a few brave one’s who were long in the market, and they are rewarded greatly. Now in terms of retail trader, this market is so rigged that virtually impossible to get a clear direction of where the next trend is going to be? Of course that’s exactly how manipulators planned it… to confuse everyone.
Looking at the current scenario too many signs point to a final top within the next 2 weeks occurring. As much as they’d like to keep it up…the Viagra is wearing off now, and no amount more is going to work anymore. If we think from manipulators point of view we’ve seen them rally all last week, and get all the bears short at the end of the day on a thursday… and then gap it up on Monday for the squeeze out of bears, which then quickly reverses with no bears left to profit from it. Just typical manipulation on their part. Trick the masses, and not allow them to profit from the coming sell off. Those who have wisdom, can read it & take their own decision for making money & not getting fooled by the big bulls.
Moving on higher side today, bulls will face hurdle at 5777 level (also mentioned the resistance at 5777 in our weekly view, and yesterday nifty reverted back from exactly 5777) , once this levels is crossed, bears will turn their back go with the bull run. Marching above 5777 level, bulls will go ahead till 5795-5810-5850. In present markets bulls have complete charge over markets till they are able to retain their gains above 5670 level. For intraday the support is at 5728, once this level is breached then we can expect slide till 5705-5688-5672 levels. Today the Nifty fut range will be 5705-5795, watchout for the breakout of this range for further market movement. Now the major hurdle zone for bulls is 5810-5850 range, and this could be the trend decider range as well for coming months.
Read our weekly market outlook also, for detailed market movement analysis with time. CLICK HERE.
Nifty Levels
- Resistance - 5777-5795-5810-5850
- Support - 5728-5705-5688-5672
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Intraday Calls
- Piramal Healthcare abv 529 tgt-533-536-540
- Axis Bank arnd 1410 tgt-1440-1458-1470+
- Panama Petro abv 269 tgt-275-282-290
- Omaxe Ltd abv 137 tgt-139-143-150
- Also watch Coromandel Int. ,Woolite Mercantile, VIP Ind, Kiri Dyes.
For all trades, keep trailing your stop loss once the stock is above the buying price. Don't take delivery of any intraday call. Avoid spike buying.
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