For the week starting from 27September, Nifty fut will face resistance at 6055 level, and in order to maintain uptrend and keep hope for bulls alive, it has to close above this level for consecutive days. Once Nifty fut manages to close above this level, we can see upper levels till 6098-6139-6210 levels. However Nifty fut will face good selling pressure on rise and will need good volumes to cross 6098 levels, failing to do so and closing below 5965 levels, it will again slide down to lower levels. On lower side Nifty fut have support at 6002-5965 level, if it breaches this level and closes below this then expect some sudden sell off to come and that will take down Nifty fut to much lower levels of 5924-5880-5835. So, the initial trading session of this week will be of greater importance to decide the further movement of markets. Traders must stay cautious and take positions after watching the market scenario. Overall range for the markets the narrower range is 5965-6055, ans a brodaer range looks like 5880-6139, however on higher limit of this range chances for sudden profit booking will be of high probability.
We recommend all traders to watch the range 5965-6098, as this range is very crucial for this week, breakout of range on closing basis on either side will lead to sharp movements. So, trading strategy must be made only after watching this range. On lower side 5940-5965 is support zone, & if Nifty dont breaches 5940 level on closing basis, then we can see bounce back in markets from lower levels, on higher side 6055-6098 is resistance zone. In this september expiry we may see some steep movements in markets and markets may show some clear one side direction. Traders are adviced to hedge all the positions accordingly, and dont trade blindly without judging the market movement.
We recommend all traders to watch the range 5965-6098, as this range is very crucial for this week, breakout of range on closing basis on either side will lead to sharp movements. So, trading strategy must be made only after watching this range. On lower side 5940-5965 is support zone, & if Nifty dont breaches 5940 level on closing basis, then we can see bounce back in markets from lower levels, on higher side 6055-6098 is resistance zone. In this september expiry we may see some steep movements in markets and markets may show some clear one side direction. Traders are adviced to hedge all the positions accordingly, and dont trade blindly without judging the market movement.
Nifty Levels
- Resistance - 6055-6098-6139-6210
- Support -6002-5965-5924-5880
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Stocks for the week
- EKC
- JPT Securities
- Panama Petro
- Raj packaging
- Financial Technologies
- Essar Oil
- Genesys International
- Mansi Finance
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Intraday Calls for 27September
- Savera Ind abv 93 tgt-95-98-104+
- Zodiac JRD abv 39 tgt-41.2-43-46
- Horizon Infra abv 368 tgt-376-385-402+
- Trent abv 1044 tgt-1061-1074-1095
- Also watch Navin Fluorine, Atlas Cycle, Nalwa Sons, Bilcare Ltd.
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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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