NIFTY SPOT LEVEL : 29 JULY 11

Tomorrow trading is expected between the strong levels of 5400 to 5565. If the market breaches the level of 5530 on the upper side then the next resistance level will be 5565. But if nifty breaches the support level of 5440 then it may go down till the level of 5400. Nifty tomorrow is strongly expected to trade between the narrow ranges of 5440 to 5530.

SUPPORT:  First Nifty spot level near 5440 and Second Nifty spot level at 5400

RSISITANCE:  First Resistance near to 5530 and second near to 5565

BANK NIFTY FUTURES: 29 JULY 11

Based on the running trading scenario bank nifty future is expected to trade between the broad levels of 10570 to 11050. Bank nifty futures can go down till the level of 10570 once it breaks the level of 10700. On the opposite side once breaking the level of 10930, it is expected to go upward till the level of 11050. Bank nifty will be trading between the narrow ranges of 10700 to 10930

SUPPORT:  First Nifty spot level near 10700 and Second Nifty spot level at 10570

RSISITANCE:  First Resistance near to 10930, and second near t0 11050

STOCK MARKET TECHNICAL OUTLOOK : 29 JULY 2011

IDEA CELLULAR 

IDEA CELLULAR is going to announce the quarter result on 29THJuly. The script closed trading at 90.50 .Expected resistance and support levels for the scrip for the next

trading session are:

Resistance 1-92

Resistance 2- 93

Support 1- 89 

Support 2- 88

ICICI BANK

ICICI BANK is going to announce its first quarter results on 29TH July. It has seen trading within the range of 1035 to 1010 on Friday. Expected levels for this script are as follow:

Resistance 1 -1036

Resistance 2- 1050

Support 1 – 1000

Support 2 - 990

STOCK MARKET REVIEW : 29 JULY 2011

STOCK MARKET REVIEW: 29 July 11

CNX Midcap index was down about 0.84%% while BSE smallcap index also gained 0.93%.  The Indian indices extended the lose to the third straight day due the weak global cue and US lawmakers are no closer to make a deal to ward off the debt default.

The Sensex declined 232 points to close at 18200, while the Nifty dropped 61 points to close at 5486.

Most of the day the decision was not in favor of the bull and bear

but in the end the tug Bear Fragged, tomorrow, the market is expected to trade once again bearish trend as any sign of hope comes from the side of the world market

Market would be expected to be down trend.  

Nifty Spot level will manage between 5400 and 5565

Today’s Nifty Top gainer were GRASIM with changes 1.55%,AMBUJACEM with changes 1.45%,ITC with changes 2.79% and losers were JINDASTEEL  with  changes 3.05 %,RELCAPITAL with changes 3.12%,IDFC with changes 3.14%