NIFTY SPOT LEVEL: 1st August 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

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

BANK NIFTY FUTURES: 1st August 11

Based on the running trading scenario bank nifty future is expected to trade between the broad levels of 10680 to 11150. Bank nifty futures can go down till the level of 10680 once it breaks the level of 10800. On the opposite side once breaking the level of 11000, it is expected to go upward till the level of 11150. Bank nifty will be trading between the narrow ranges of 10800 to 11000

SUPPORT:  First Nifty spot level near 10800 and Second Nifty spot level at 10680

RSISTANCE:  First Resistance near to 11000, and second near t0 11150

TECHNICAL CALLS: 1st August 2011

CANARA BANK

Sell Canara Bank at cmp

Target 1:544

Target 2:538

Stop Loss 564.45

AXIS BANK

Buy axis bank above 1340

Target1: 1348

Target 2:1360

Stop Loss 1324.45

STOCK MARKET TECHNICAL OUTLOOK: 1 August 2011

SUZLON ENERGY

SUZLON ENERGY is going to announce its first quarter results on 29^TH July. It has seen trading within the range of 53 to 52 on Friday. Expected levels for this script are as follow:

Resistance 1-56

Resistance 2- 58

Support 1- 49

Support 2- 46

GRASIM INDUSTRIES

GRASIM is going to announce the quarter result on 30^THJuly. The script closed trading at 2196 .Expected resistance and support levels for the scrip for the next trading session are:

Resistance 1-2229

Resistance 2- 2263

Support 1- 2172

Support 2- 2148

STOCK MARKET REVIEW : 1ST AUGUST 2011

CNX Midcap index was down about 0.36% while BSE smallcap index also lost 0.67%.  Indian stock index ended virtually unchanged on Friday, taking a breather for three consecutive days of losses. It 'been a volatile session, with NSE Nifty vary between a minimum of 5450 and 5520 at the highest level.

Real estate, metals and oil and gas stocks were among the major laggards. Reserves Mid-Cap and Small Cap was also a little stream. However, unlike the negative trend were consumer goods and banking stocks and Telecom.

Finally, the BSE Sensex ended at 18,197 losing 12 points. It had earlier touched a day's high of 18,334 and a day's low of 18,131. It opened at 18,194. The NSE Nifty closed at 5,482 down 6 points.

Market would be expected to be down trend due to weak global market and Fear US Dead Default and market can say be under buying pressure due to profit booking.  Nifty Spot level will manage between 5400 and 5565

Today’s Nifty Top gainer were UNOTEDBEWERIES with changes 6.34%,IDEA CELLULAR with changes 4.83%,MARICO with changes 2.86% and losers were ADANI ENTERPRISES with  changes 20.97 %,ADANI POWER with changes 11.66%, UNITECH LTD with changes 5.97%