Intraday Share Tips For Tomorrow 03-Aug

Jaiprakash Associates Ltd.
Sell below 64.10 for target of Rs 63-62.25-61.40 with placing a stop loss of Rs 65.50.

Jindal Poly Films Ltd.
Sell below 240 for target of Rs 236-234-231.65 with placing a stop loss of Rs 243.80

Reliance Industries Ltd.

Buy above 838 for target of Rs 845-849-852 with placing a stop loss of Rs 830

Trading Strategy For Nifty Futures
Sell Nifty Futures around Rs 5,485 for target of Rs 5,460-5,445 and stop loss below of Rs 5,505.

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Nifty Intraday outlook for Tomorrow 03-Aug

Nifty remained under pressure throughout the day and hovered around the 5,450 levels. It showed selling pressure from resistance near 5,500 levels and closed in deep red. In coming trading sessions if Nifty trades below 5450 level, then we can see more selling pressure. Immediate resistance for Nifty is seen around at 5,505-5550. In case of further downside, Nifty may find support around 5,375.

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Nifty Trend For Tomorrow 02-Aug

By looking at Nifty daily charts, Nifty has made a close below the trend line today, which is acting as resistance for Nifty since last three consecutive days. For Nifty tomorrow, if it is able to cross the resistance level of 5,550 then only some positive moment can be seen but then, it is likely to face stiff resistance at 5,580-5,600 levels. Immediate support for the Nifty is seen at 5,500 levels, if it slips towards lower side then 5,455 may be next support for it whereas 5,430 is its major support level.

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Stock Tips For Tomorrow 02-Aug

Bajaj Auto Ltd.
Buy above 1490 for target of Rs 1508-1525-1537 with placing a stop loss of Rs 1470.

Cairn India Ltd.
Buy above 312 for target of Rs 315-317-318.70 with placing a stop loss of Rs 308.65.

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Market Technical Views and Trend (August)

As per daily charts SHORT TERM Nifty is in corrective mode..
• Last swing high is at 5702. (Higher high)
• Last swing low is at 5533. (Lower low)
• Nifty is in down move (from 27th July) with targets (+/- 10 points) of 5490, 5450, 5410.
• The down move will terminate above 5702.

As per weekly charts MEDIUM TERM trend is down..
• Last swing high is at 5702. (Lower high)
• Last swing low is at 5497. (Higher low)
• Nifty is in down trend (from 28th July) with targets (+/-30 points) of 5430**, 5370, 5320.
• The down move will terminate above 5702.

As per monthly charts LONG TERM trend is also down..
• Last swing high is at 5740. (Lower high)
• Last swing low is at 5196. (Higher low)
• Nifty is in down trend.
• The down trend will terminate above 5740.

Source : Dr JC Shah

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