Market outlook for the week 22-26October

What we said last week, & what happened actually, see yourself & judge our accuracy. And you all must have watched Nifty trading in this range for whole week. None of the levels were breached on closing basis.We have been reiterating since last many weeks that 5755 is major hurdle on upside  & now most of our readers & followers are watching everything happening exactly as we said, with their eyes wide open. Those who follow us sitting on money mountains & all other speculators trapped badly on wrong trades. Only Team EAIB providing you all the most accurate market view well in time before anyone else tell it, so that you all can enjoy the money rain & can multiply your wealth.. Whole India comes up shouting about the levels & trades given by us, after they are posted here on our blog. Read the facts provided here for knowledge, and use your own wisdom to trade.

 

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Coming on to this week, if we look whole scenario...there are a lot of people short in this month's coming expiration this Thursday, which leads us to believe it could be an up expiry, with a clause that bulls must save the support of 5585. We can’t see manipulators paying off for all those puts, as you know how they like to pen the market at a level that they pay out the least amount of retail trader people..... both on the calls and the puts. This will be tough on the bulls though, as we all know how they like to fool us. They sell off just enough to get the bears licking there chops, thinking that it’s going to crash and uhhhhh....squeeze time! So its always wise to be sure to exit your shorts when you get a nice profit, which should be at some good support level. You can always re-enter later. We never know what news they could release over the weekend? Remember, most of the sharp movements (Crash/rally) are on Friday and Monday...... just food for thought.

Our view for the markets remains the same as we said last week. The best way deal with this kind of markets is to follow the levels & trade on both sides of movement, rather than leveraging & betting unidirectional. This week also the bears need to gap this thing down below support 5614-5585, or the bulls are going to stage another massive murder of them. If bulls are able to hold the markets above 5585 level (as this level is the hope for bulls on downside), then surely bulls can gain strength once again. But moving onto the higher side bulls have barrier at 5755 level, if they are able to cross this barrier then they will inch higher up to 5790-5818-5848. Above 5755, Moving on to higher side  5848 will be the next hurdle for bulls, and an extra adrenaline rush would be needed to cross it & in case it is crossed then bulls will straight away take it to 5924+. Contrary to this bull side, if bears are able to restrict the bulls from marching higher & pull the markets down below 5585, then we can see selling coming in markets & Nifty fut showing levels of 5555-5506-5455, break below 5455 will be an energy booster for bears for yet another mass butchering of bulls.. However the bears will be having a tough fight with bulls in lower levels around 5506. Bears have to work hard to break the support 5585 on closing basis, in order to save themselves from getting butchered by the bulls once again. Overall immediate range for the markets for this week looks like 5585-5790, & a broader range of 5455-5848. All downside below/around 5506 (if comes)  in markets is the “offloading zone” for bear positions we believe. A range bound market is likely to continue for few weeks. It’s up to us to figure it out of course, but never forget to expect the unexpected..... Read the facts provided for knowledge & use your own wisdom to trade in this market.

Weekly Nifty fut Levels

Resistance: 5755-5790-5818-5848

Support: 5585-5555-5506-5455

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