Market Outlook for 17th August, 2011

Nifty Future:

Resistance around 5050 and crossover of 5072, it will move to 5105.

Support around 4970 and breaking 4952, it will fall to 4909 – 4875

Stock Future:

Short Axis Bank below 1206 with Stop at 1218. TGT 1187  – 1165

Short LT below 1610 with Stop at 1624. TGT 1588 – 1563

Short Tata Motors below 796 with Stop at 806. TGT 781 – 763

MCX – Commodities

Crude: (Sept)

Buy above 3962 with SLR at 3941. TGT 4007 – 4038

Gold – (OCT):

Resistance around 26255 and crossover of 26268, it will move to 26383 – 26460

Support around 26025 and breaking 26012, it will fall to 25897 – 25821

SilverM:

Buy around 59475 and add around 59295 with SLR at 59233. TGT 60030 – 60395 – 61000

Happy Trading

C T Ramesh Raja