Market outlook for the week 29October-2November

What we said Last week???? CLICK HERE TO RECALL.....  we hope you all are aware of what happened last week!!!! Nifty fut traded in same trend whole week. It made low of  5666 level & going upto 5733 but not able to cross our hurdle of 5755 neither breaking our support 5660. We told all our readers that manipulators will show a up expiry & the same happened. All our followers minted money in truckload by trading bidirectionally with levels, all other retail traders were trapped badly through deceptive movement in last week! Stay tuned with EAIB Securities for more action.

Till now bulls are trying hard to sustain above 5660 mark on closing basis, but If it doesn’t by some odd reason, and it decisively breaches/closes below the 5660, then we will need another conforming close below it before we’d be comfortable saying “the bear is back” & then we expect a 75-145pts downside movement (from 5660 level) in markets. Revengeful bears can also brutally murder the bulls & then this downside move can come in a single trading session also. Till markets are above 5660 level, bulls will regain their energy to fight back with the bears & show bounce back. 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. Just play it safe everyone, as chasing this bull is going to break you if you don’t take a breather and still out from time to time. Riding the bull takes guts, as he can throw you at anytime.

Moving onto higher side the short term hurdle for bulls will be at 5755-5790, as we have mentioned the importance of these levels in earlier few weeks also. And whole world watched Nifty fut reverting back down sharply from this range. Once we write the levels & Nifty future shows the importance in actual movement....whole India comes out shouting about those levels. If this resistance zone is crossed by bulls on consecutive closing basis we will see them flying like a Superman!!!! 

Read the facts provided for knowledge & use your own wisdom to trade in this market.

Our view for the markets remains almost 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 5660, or the bulls are going to stage another massive murder of them. If bulls are able to hold the markets above 5660 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 5660, then we can see selling coming in markets & Nifty fut showing levels of 5610-5548-5506, break below 5548 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 5660. Bears have to work hard to break the support 5660 on closing basis, in order to save themselves from getting butchered by the bulls once again. Overall immediate range for the markets for his week looks like 5660-5790, & a broader range of 5548-5848, however on higher limit of these ranges, chances for sudden profit booking will be of high probability. Trading in this market without any knowledge/advice of market directions can be a losing game all in all, so a good advice is the basic need for minting money from this market.  

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: 5660-5610-5548-5506

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