Market outlook for the week 1-5November

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•Weekly View, CLICK HERE.

The market last week was enough to make both bulls and bears alike “sick too death”. When is enough… “enough”? There probably isn’t any retail traders left in this market as it’s clearly driven by computer bots trading against each other with our money of course. No one can make money in this kind of crappy market, except maybe the day traders who are knowing the news and only the really good one’s at that who are well aware of all insider facts.

To get a glimpse of whats going to happen next, you have too think about this from the manipulators point of view. There are still plenty of bears hanging on to their shorts last week, as the market just traded with huge volatility and never broke the overhead resistance area. This tells us that they must be shaken out before the real plunge begins. A quick short squeeze would probably just about do the trick to get the bears off the train before the real move starts. During this week, it’s really going to be a wild ride after Wednesday, but we are not expecting too much bear action on Monday. So just be patient till Wednesday until the close at 3:30pm on Thursday as it’s going to get exciting!

Till now bulls are trying hard to sustain above 5965 mark on closing basis, but If it doesn’t by some odd reason, and it closes below the 5965 mark, then we will need another conforming close below it before we’d be comfortable saying “the bear is back” & then we expect a 75-165pts downside movement (from 5965 level) in markets. Revengeful bears can also brutally murder the bulls & then this downside move can come in a single trading session also. However, we no longer live in a “free society”, where the stock market is actually traded freely with real buyers and real sellers. Now we have a market that is totally controlled by manipulators, so anything anytime unexpectedly can happen & change the whole scenario.

For the week starting from 1 November, Nifty fut is having support at 5965 level. If bears are able to close the markets consecutively below 5965 level, then everyone must get ready for some sharp downside action in the markets. Once this level is breached and sustained then we can see lower levels of 5924-5880-5835. As we have mentioned in earlier intraday market views also, that 6072 level is a hurdle for the bulls, Nifty fut will face resistance around 6072, if able to cross & sustain above this then we can expect higher levels of 6124-6170-6210+ .Looking at the current scenario, Nifty fut will struggle in range 6072-6124, so traders must stay cautious.Trading in this marke without any knowledge/advice of market directions can be a lossing game all in all, so a good advice is the basic need for minting money from this market. In this November 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. Read the facts provided for knowledge & use your own wisdom to trade in this market .

Nifty Fut Weekly Levels

• Resistance - 6072-6124-6170-6210
• Support - 5965-5924-5880-5835

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Stocks for the week

• Splash Media
• Haldyn Glass
• JM Financial
• Subuthi Finance
• JPT Securities
• National Plastic Ind.
• Educomp
• Tata Global

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