Intraday market outlook for 9September

Yesterday we told that 5624 is resistance level & 5556 is support zone, and you all must have seen markets crashing down to 5570 from high of 5623.8 . Hope all of you must have got good gains if traded accordingly. Accuracy is what Team EAIB provides you all. Follow us & get used to of minting unexpected money from markets with our highly accurate calls & market outlook.

On 9September, Nifty fut has support at 5560 level and intermediate resistance at 5624 level. In current scenario markets are trading in resistance zone, so traders must stay cautious in all positions. On upside, Nifty fut has near term hurdle at 5655 level, if it maintains to sustain above this level then we can see an upside move in markets in coming days. This upside can yield higher levels of 5637-5655-5667. If bulls are unable to retain their gains above 5655 then traders must stay cautious and use this rise for exiting the long positions, as the rise might fizzle out in later days. On higher levels if Nifty ft is unable to cross 5624-5655 and reverts back then on lower side, it has support at 5556 level, breaching below this level decisively can show sell off again coming in, and that can slide down Nifty fut to the levels of levels 5536-5520-5480. Any close below 5520 level will once again create panic among the investors and will be a warning bell for bulls in coming days.
We recommend all traders to keep a sharp watch on range 5556-5655, as breakout of this range on either side will show some sharp moves in markets. In intraday, on upside 5624/5655 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 5556 level for their positions. Dont leverage positions without knowing the direction of markets, as that can make losses.

Nifty Levels

• Resistance - 5624-5637-5655-5667
• Support - 5556-5536-5520-5480

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Intraday Calls

• Tulip Telecom abv 180 tgt-183-184.8-187
• Marg Ltd abv 235 tgt-240-244-252
• Parekh Aluminex abv 436 tgt-445-456-472+
• TCS abv 883 tgt-890-913-925+
• Also watch MMTC, Trend Electronics, Shriram Transport, LT Foods.

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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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