Market Outlook for 1st February, 2011

Trading Levels for Nifty Future:

Buy around 5494  with SL at 5483. TGT 5542 – 5573. Above 5579, it can move to 5630 – 5665

Stock Future:

BPCL:

Breakdown 607 / Stop 616 / TGT 590 – 580

Infosys:

Breakdown 3121 / Stop 3139 / TGT 3080 – 3065

Tata Motors:

Breakout 1165 / Stop 1153 / TGT 1190 – 1205

Yes Bank:

Breakout 270 / Stop 264 /  TGT 283 – 290

Note:

Breaking  BO / BD level, it can bounce to midpoint between BO / BD and STOP. All stops are very powerful and if its takeout after entry level, then trend change will take place.

Happy Trading

C T Ramesh Raja