FOR THE WEEK (02-06, Aug 2010)

FOR THE WEEK:

The immediate resistance levels for the Sensex and Nifty are at 18000-18100-18200 and 5400-5450-5480, respectively, while the support level is at 17830-17750-17700 and 5350-5320-5300. 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 (02-08-2010)

For the Day: Domestic markets are likely to open on a positive note, taking cues from the flattish US and positive Asian indices. Traders are advised to trade long in Nifty above 5400 levels, else from 5380 with a stop loss at 5350 levels, targeting higher levels of 5430 and 5450.

Today’s Levels (02-08-2010)

(Last Close : Sensex 17868 : Nifty Spot 5368)
Today’s Levels
Trade long if Sensex sustains above 17838 (Nifty 5350)
[Upside targets/resistances at 17954(5391)/18000(5413) or higher]
Trade short if Sensex fails to sustain above 18000(Nifty 5413)
[Downside targets/supports at 17954(5391)/17838(5350) or lower]

Good Morning (02-08-2010)

Asian stocks rose, extending four consecutive weekly gains, as companies from Honda Motor Co. to Hyundai Mobis Co. reported higher earnings or forecasts.

Indian Market will open in flat to positive note.

NIFTY range for the day would be 5340-5380-5400-5440-5470

SGX NIFTY is trading at + 38 (5409) @ 8:20 IST.

Crude is trading at $ 79.08. Gold is trading at $ 1184.50 (Rs 17771). Rs vs $ is at 46.41

Calls:
VIPIND
TITAN
ZYLOG
TUBEINVEST
PANTALOONR
SHOPERSTOP
JAYAGROGN
COROMONDEL
JETAIRWAYS
BAJAJAUTO
DCB
GICHSGFIN
SAHYADRI (BSE)
Have A Nice Trading Day.