Market Views : Stock Market For Tomorrow (03rd-Aug)

It was a cheerful start to the week for the Indian market which measured strong gains on the back of good buying in financial and with firm support from global markets. On the basis of daily technical chart, Nifty may bounce after breaching the rising wedge which indicates short term bullish trend in the market. The Nifty should face resistance near 5,470 & 5,500 level. A breakout above 5,450 only will be treated as the continuation of bullish trend, while trading below this level market may treat as consolidated and could go either side.

On an intraday basis, Nifty should find support near 5,398 & 5,370 level while the resistance will be at 5,457 & 5,500 level.

The Sensex should find supports at 17,890 and 17,760 and resistances at 18,182 and 18,250.

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