Market Outlook for 1st August, 2011

Nifty Future:

Resistance around 5541 and crossover of 5547, it will move to 5588 – 5635

Support around 5487 and breaking 5475, it will fall to 5450 – 5395

Stock Future:

Buy Bajaj Auto above 1466 with Stop at 1453. TGT 1487 – 1510

Buy ICICI Bank above 1042 with Stop at 1030. TGT 1060 – 1080

Short Reliance around 843 with Stop at 850. TGT 810

MCX – Commodities

Crude:

Buy above 4324 with SLR at 4302. TGT 4370 – 4402

Short below 4240 with SLR at 4262. TGT 4194 – 4163

Gold:

Resistance around 23200 and crossover of 23212, it will move to 23295 – 23395

Support around 23040 and breaking 23018, it will fall to 22935 – 22840

SilverM:

Buy above 59133 with Stop at 58889. TGT 59680 – 60050.

If Stop is takenout, then it can move down to 58525 – 58220

Happy Trading

C T Ramesh Raja