Today’s Levels (30-08-2010)

(Last Close : Sensex 17998 : Nifty Spot 5409)
Today’s Levels
Trade long if Sensex sustains above 17998 (Nifty 5409)
[Upside targets/resistances at 18090(5435)/18155(5452) or higher]
Trade short if Sensex fails to sustain above 18090 (Nifty 5435)
[Downside targets/supports at 17998(5409)/17944(5392) or lower]

FOR THE WEEK (30 Aug – 3 Sep, 2010)

FOR THE WEEK: The immediate resistance levels for the Sensex and Nifty are at 18180-18330-18460 and 5480-5500-5550, respectively, while the support level is at 18000-17950-17800 and 5400-5390-5430. Any move close to the resistance levels can be used to book partial profits and initiate fresh positional long positions only if the Sensex manages to sustain above its support levels. However, considering the global uncertainty, maintain strict stop losses for all the long positions.

For the Day (30-08-2010)

For the Day: Domestic markets are likely to open on a positive note, taking cues from the positive US and strong Asian indices. Traders are advised to trade long in Nifty above 5450 levels, else from 5430 with a stop loss at 5400 levels, targeting higher levels of 5480 and 5500. Alternatively, trade short if Nifty fails to breach past 5500 levels with stop loss placed at 5510 targeting lower supports.

Good Morning (30-08-2010)

Asian stocks rose the most in four weeks and the yen slumped as the Bank of Japan met to discuss measures to support economic growth and Federal Reserve Chairman Ben S. Bernanke pledged similar policies.

Indian market will open in positive note.

NIFTY range for the day would be 5350-5380-5430-5470-5535

SGX NIFTY is trading at + 56 (5460) @ 8:20 IST

Crude is trading at $75.42. Gold is trading at $1237.4 (Rs 18897). Rs vs $ 46.89.

Calls:
TATACHEM
TATGLOBAL
SRF
ADVANTA
ESCORTS
LAKPRE
NAHARCAP
SRTRANSFIN
PRATIBHA
HANUNG
POLYPLEX
JINDALPOLY
KARURKCP
REPRO
PANTALOONR
GARWALLROP
JETAIRWAYS
Have A Nice Trading Day.