Market outlook for the week 27-31July

For the week starting from 27July, Nifty will face major resistance at 4655. For any upmove Nifty fut has to sustain above this level, and once it crosses and sustains above this level then we can expect 4710-4775-4830 levels. However if Nifty fut is unable to sustain above 4655 level, then we it has support at 4510 level, any close below this level can make Nifty slide till the levels of 4440-4350-4305.



We recommend all trader/investors to book long positions at every rise, as we may see a correction in markets in coming days and also due to F&O expiry there will be high volatility in markets. All global markets are also too close to their strongest resistances and if all of them break these levels, then sky is the limit. If not, it may be the start of another bear run. On downside 4510 will be a good support for Nifty fut, but if that is breached and sustained then we can see a trend reversal in markets, so one must stay cautious and trade accordingly. However above 4400 levels, market sentiments are good for bulls, but below 4400 sentiments can change. Breaching 4400 can create panic selling and can make Nifty go down to 4350-4265-4140 levels.




Nifty levels
Resistance- 4590-4635-4655-4710-4775
Support - 4510-4440-4390-4305-4265




Stocks for the week

• MMTC
• Ambuja Cement
• Datamatics info
• Idea Cellular
• Shoppers Stop
• Pochiraju Ind.
• Seshayee Paper
  

Intraday calls for 27July

• FSL abv 26.2 tgt-27-27.5-28.2
• EDC abv65 tgt-67-68.1
• Bharat Forge abv 183 tgt-188-192-197
• Warren Tea abv 130 tgt-132-134.5-136
• Tulip telecom abv 965 tgt-874-982-988
• Also watch Geometric ltd, Rallis,Indus fila, Melstar info.

For all trades,keep trailing your stoploss once the stock is above the buying price. Avoid spike buying.

For live market updates and stock calls, add our yahoo id- eaibsecurities@yahoo.com

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