FOR THE WEEK (19-24, July 2010)

 FOR THE WEEK: The immediate resistance levels for the Sensex and Nifty are at 17950-18050-18150 and 5380-5400-5430, respectively, while the support level is at 17880-17800-17650 and 5350-5330-5300. Any move close to the resistance levels should be used to exit from long positions. Initiate fresh positional long positions only if the Sensex manages to sustain above 18000. However, given the global uncertainty, maintain strict stop losses for all long positions.

For the Day (19-07-2010)

For the Day: Domestic markets are likely to open on a weak note, taking cues from the weekend selling witnessed in the US and European markets. The Asian indices are also trading on a weak note. Traders are advised to trade long in Nifty above 5350 levels, else from 5330 with a stop loss at 5300 levels, targeting higher levels of 5400.

Today’s Levels

(Last Close : Sensex 17956 : Nifty Spot 5394)

Today’s Levels

Trade short if Sensex fails to sustain above 17929 (Nifty 5382)

[Downside targets/supports at 17855(5358)/17793(5336) or lower]

Trade long if Sensex sustains above 17855 (Nifty 5358)

[Upside targets/resistances at 17929(5382)/17980(5401) or higher]

Good Morning

Asian stocks fell after revenue at Bank of America Corp. Citigroup Inc. and General Electric Co. missed analyst estimates and a gauge of U.S. consumer confidence sank to the lowest in a year.

Indian Market will open in flat to negative note.

NIFTY range for the day would be 5350-5380-5400-5420-5440

SGX NIFTY is trading at -32 (5369) @ 8:15 IST.

Crude is trading at $75.78. Gold is trading at $1193.2.( Rs 17897). Rs vs $ is at 46.77.

Calls:

DCB
YESBANK
ORIENTBANK
DHANBANK
TITAN
AUROPHARM
CANFINHOME
GICHSGFIN
LICHSGFIN
FCH
PANTALOONR
SHOPERSTOP
TUBEINVEST
ZYLOG
UBHOLDINGS ( Long Term)
JETAIRWAYS
ATFL (Long Term)

Have A Nice Trading day