Sunday, July 26, 2009

Weekly Index Outlook 27-July-2009 - 31-July-2009

Nifty


Nifty's further move depends on how market reacts to lacklusture numbers by RIL on friday evening.


Nifty weekly resistances are placed at 4611-4660 and 4785 while weekly supports are placed at


4485, 4380, 4285.


Sultan of stocks - Reliance


As traders we should expect one sided movement in RIL this week.


On the bullish side closing above 2055 will take RIL to 2200 this week.


On the bearish side closing below 1950 will take RIL to 1805 this week.


King of Banks


SBI could not follow up with an impressive performance last week.


In the weak ahead, SBIN needs to firmly close above 1750 inorder to move to 1830.


Failing to do so, SBI is in danger of a fearful bear attack to 1650 and 1580 levels.

No comments:

World Markets (delayed)