Market Outlook for 2nd August, 2011

Nifty Future:

Resistance around 5548 and crossover of 5559, it will move to 5607 – 5635

Support around 5495 and breaking 5488, it will fall to 5425 – 5405

Stock Future:

Short Aban below 478 with Stop at 486. TGT 467 – 455

Short BHEL below 1805 with Stop at 1819. TGT 1780 – 1750

Buy LT around 1735 with Stop at 1725. TGT 1755 – 1780

MCX – Commodities

Crude:

Buy above 4298 with SLR at 4276. TGT 4344 – 4375

Short below 4214 with SLR at 4236. TGT 4168 – 4138

Gold – (OCT):

Resistance around 23512 and crossover of 23525, it will move to 23633 – 23706

Support around 23342 and breaking 23330, it will fall to 23221 – 23150

SilverM:

Short below 58178 and add around 58370 with Stop at 58421. TGT 57637 – 57277

If Stop is takenout, then it can move upside to 58785 – 59085

Happy Trading

C T Ramesh Raja