For the week starting from 22November, Nifty fut will face resistance at 5930 level, if market maintains to cross and sustain above this level then we can expect the bulls to once again gear up easily for a new ride, and taking Nifty fut to higher levels of 5980-6065-6124+ . For upside move one must concentrate on consecutive closing above the resistance level given above. However , in case Nifty fut is unable to cross n close above the resistance levels, then on lower side we have support at 5810 level, if this level is breached and sustained then expect bears to attack decisively and try to take charge over bears, and will make Nity fut slide down to lower levels of 5770-5710-5640. Any close below 5810 level will be energy booster for bears and bulls might loose grip over the market. Consecutive close below 5810 will make bears rule the market and will try to make the whole scenario turned into bearish for a while. Traders must stay cautious in lower range of 5840-5810 as this range can act as support area for bulls & in this expiry week sudden sharp short covering can come if support level is not breached. The week will witness some action packed fight between bulls & bears to take the charge for complete month.
We recommend all traders to stay cautious in current market, as 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 week traders muct watch the range 5810-6065, breakout of this range will decide the further movement and will show some sharp movement. All traders must keep booking profits at every rise in markets, till the market is able to not able to hold above the levels of 6065 and on lower side if the markets breaks & close below 5810 , one must get alerted for all long positions. This week get ready for a sharp & deceptive moves in markets. A broader range for the markets will be 5810-6065. Better to trade with levels and not with sentiments. The upper-lower limits of range must be used for all long/short positions for this week. Intraday Nifty fut levels will be provided, for more precised market movement, stay tuned with EAIB Securities.
Nifty Levels
- Resistance - 5930-5980-6065-6124
- Support - 5810-5770-5710-5640
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Stocks for the week
- Mansi finance
- Tulsi Extrusion
- Birla Shloka Edutech
- Kopran Ltd
- Federal Mogul
- ECE Industries
- Glenmark Pharma
- HCL Tech.
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