Technical Calls : 2 august 11

Sell JINDAL SOUTH WEST FUTURES at cmp 

First target: 734

Second Target: 720

Stop loss: 761.45

Buy HEXAWARE FUTURES above 92.50 

First target: 93.25

Second target: 94.50

Stop loss 91.25

BANK NIFTY FUTURES: 2 August 11

Based on the running trading scenario bank nifty future is expected to trade between the broad levels of 10680 to 11250. 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 11140, it is expected to go upward till the level of 11250. Bank nifty will be trading between the narrow ranges of 10800 to 11140,

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

RSISITANCE:  First Resistance near to 11140,, and second near t0 11250

STOCK MARKET TECHNICAL OUTLOOK:

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 1-58

Resistance 2- 60

Support 1- 46

Support 2- 42

United bank of India

United bank of India announced quarter result on 30^THJuly. The script closed trading at 93.10 .Expected resistance and support levels for the scrip for the next trading session are:

Resistance 1: 95

Resistance 2: 97

Support 1: 91

Support 2: 88

STOCK MARKET REVIEW: 2 August 11

CNX Midcap index was down about 0.12% while BSE smallcap index also lost 0.26%.

The BSE Sensex ended at 18,314 adding 117 points. It had earlier touched a day's high of 18,440 and a day's low of 18,219. It opened at 18,352. The NSE Nifty closed at 5,516 up 35 points.

Remember big laggards were consumer goods and consumer durables stocks. IT, telecom and auto stocks were major gainers. The Mid Cap and Small Cap stocks were pressure.

For the Indian markets are corporate profits and parliamentary debates during the monsoon session. Any significant progress on a key to the reform-oriented bills will be emotionally positive for markets

Market would be expected to be up trend due positive US Results Nifty Spot level will manage between 5430 and 5605

Today’s Nifty Top gainer were RANBAXY  with changes 4.08 %, POWER GRIP CORPO with changes 2.24%,KOTAK MAHINDRA  with changes 2.06% and losers were STEEL AUTHORITY with  changes 5.07 %,SESA GOA with changes 2.22%, STERLITE with changes 1.17%