NIFTY SPOT LEVEL: 3 August 11
Tomorrow trading is expected between the strong levels of 5370 to 5530. If the market breaches the level of 5495 on the upper side then the next resistance level will be 5530. But if nifty breaches the support level of 5410 then it may go down till the level of 5370. Nifty tomorrow is strongly expected to trade between the narrow ranges of 5410 to 5495.
SUPPORT: First Nifty spot level near 5410 and Second Nifty spot level at 5370
RESISTANCE: First Resistance near to 5495 and second near to 5530.
BANK NIFTY FUTURES: 3 August 11
Based on the running trading scenario bank nifty future is expected to trade between the broad levels of 10575 to 11010. Bank nifty futures can go down till the level of 10680 once it breaks the level of 10575. On the opposite side once breaking the level of 10925, it is expected to go upward till the level of 11010. Bank nifty will be trading between the narrow ranges of 10680 to 10925,
SUPPORT: First Nifty spot level near 10680 and Second Nifty spot level at 10575.
RESISTANCE: First Resistance near to 10925and second near to 11010.
STOCKS TO WATCH: 3 aug 11
Sell FEDERAL BANK at cmp
Target 1: 400
Target 2: 395
Stop loss: 411.45
Sell CENTRAL BANK below 110
Target 1: 108.50
Target 2: 106.50
Stop loss: 112.45
STOCKS FOR TODAY: 3 AUG 2011
Bharti Airtel
Bharti Airtel has raised the pre-paid tariff by 20% in some specific areas some days before. It has seen trading within the range of 430 to 439 on Tuesday. Expected levels for this script are as follow:
Resistance 1-442
Resistance2- 448
Support 1- 424
Support 2- 410
CEAT
Ceat closed trading at 98.35 on Tuesday. Expected resistance and support levels for the scrip for the next trading session are:
Resistance 1-102
Resistance2- 106
Support 1- 96
Support 2-94
STOCK MARKET REVIEW: 3 August 11
CNX Midcap index was down about 1.27% while BSE smallcap index also lost 1.45%. The Sensex toppled 204 points to settle at 18110 and the Nifty shut 60 points lower at 5457. The BSE Small-Cap and BSE Mid-Cap indices closed -1.5% each.
The Indian stock market has gone on trade profits today on continued selling pressure in index heavyweights due to disappointing U.S. manufacturing data, Europe and China have been sold around the world.
Market would be expected to be up trend due positive US Results Nifty Spot level will manage between 5370 and 5530
Today’s Nifty Top gainer were NTPC with changes 2.35 %, CIPLA with changes 2.17%,ONGC with changes 1.12% and losers were SBI with changes 2.90 %,RELIANCE CAPITAL with changes 2.73%, SESAGOA with changes 2.58%
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