On 3September, Nifty fut is having support at 5475 level, once this level is breached and sustained then we can see lower levels of 5460-5445-5410. As we have mentioned in earlier market views also, that 5552 level is a major hurdle for the bulls, and exactly the same is happened in last weeks. Any rise till this level will be an exit opportunity for long positions, as the new uprise movement will start only after the crossover of 5552 level with good volumes on closing basis. In intraday today, Nifty fut will face resistance around 5510, if able to cross & sustain above this then we can expect higher levels of 5524-5537-5552. Looking at the current scenario, Nifty fut is struggling at higher levels, so traders must stay cautious.
We recommend all traders to buy on dips and sell on rise till Nifty fut is moving in range 5460-5537. On higher side 5537-5552 range will be a resistance zone for bulls & bears will try hard to hault down the bulls here. If you are not aware of levels and direction of markets, try to square off the trades as early as possible, and take home the profits rather than stucking your money in positional trades. Market movement will be highly volatile with stock specific movement. These stocks can spurt in coming days. Only traders who have patience buy on dips and keep booking profits at every rise, impatient and lowrisk traders can stay away from markets as in coming days we ar going to see highly volatile moves.
We recommend all traders to buy on dips and sell on rise till Nifty fut is moving in range 5460-5537. On higher side 5537-5552 range will be a resistance zone for bulls & bears will try hard to hault down the bulls here. If you are not aware of levels and direction of markets, try to square off the trades as early as possible, and take home the profits rather than stucking your money in positional trades. Market movement will be highly volatile with stock specific movement. These stocks can spurt in coming days. Only traders who have patience buy on dips and keep booking profits at every rise, impatient and lowrisk traders can stay away from markets as in coming days we ar going to see highly volatile moves.
Nifty Levels•Resistance- 5510-5524-5537-5552
•Support- 5475-5460-5445-5410
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