In the present market, dirty big players have succeeded in beating up every last bear to the point that they are either broke, just too scare to go short anymore, or have converted to being a bull. Bulls who got courage to long nifty around 5960 are rewarded with handsome gains in last 3 days & will be rewarded more very soon if they are able to cross the resistance of 6194. Moving on to today,in current scenario bulls are having an upper hand till they are able to sustain the markets above 6120 level. We have already suggested to buy around 5965 level on last Friday. It seems that bulls are having a party time till markets are trading above 5965-6120 levels, & its time for bulls to re-energise themselves if they want to retain the gains. For bulls now resistance is at 6170-6194 level, till they are below this level they will be attacked by bears again n again. But as soon as this level is crossed by bulls, they will butcher the bears massively and will take the markets towards 6210-6235-6255. On lower side Nifty fut have support at 6120 level, once this level is breached ....expect bear army to take charge over markets & bulls will be wiped off brutally. Once sustain below 6120, markets can tank down to 6102-6080-6040. Nifty range seems to be 6080-6235. It’s hard to say for sure what manipulators are thinking, but we are sure their aim is to steal the money from the new retail bulls, and not to allow the bears to profit from the sell off. We would say that they want to steal the bears money too, but all the bears are now broke, as they stole that money a week ago. This market is seriously drunk now. Read the facts provided for knowledge & use your own wisdom to trade in this market.
- Resistance - 6172-6194-6210-6235
- Support - 6120-6102-6080-6040
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Intraday Calls
- Orchid chemical abv 299 tgt-302-306-312+
- Mandhana Ind abv 272 tgt-280-287-299
- Glory Polyfilms abv 11.75 tgt-12.1-12.4-12.85
- Reliance Mediaworks abv 278 tgt-285-294-309+
- Also watch Kanpur Plastics, Titan Industries,Rossell Tea, Atul Ltd.
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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