Monday, August 2, 2010

Sensex outlook - Aug 2010

Nifty is hovering in the range of 5350 to 5425 for the past 10 days. Nifty will make attempt to break the resistance of 5465 - 5485 during Aug and can touch 5525-5545. If there is any correction, 5350, 5285, 5250 would act as support.

Last month's prediction of Opto and Bank of India worked out well. Bank of india touched 410 in and Opto touched 270 levels in July.

Kotak bank could be the dark horse for the month of Aug. CMP 780. If it violates 805 convincingly, it could touch 835 - 848 range. Support can be seen in 750 -762 range.

Even though market is holding on at higher levels, tread cautiously.

Update on Aug 5: Kotak recorded Rs.837. book partial profits.

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