04 AUGUST TO 08 AUGUST

Our outlook is mainly for swing traders and investors. But the levels given are relevant in any type of trading. Every care is taken to give a profitable outlook. But use your own discretion before initiating trades as these levels may or may not be achieved.

RELIANCE(2298)
This scrip moves in tandem with the index. Just as in our indices, this stock is also likely to move up in near term. It has immediate targets of 2450 and then 2480 on the upside. But these will also act as resistances. Reversal from these levels would compel this stock to move down towards its support at 2150.
Although, it is in uptrend in the short term, medium term is not that much positive. 2000 level seems to be the bottom for medium term.

SBIN (1505)
Needs to move past 1600 to initiate long trades for a target of 1800. Otherwise, likely to remain range bound below 1600 until then. Desist from trading longs until above 1600.

INFOSYS (1639)
IT sector as whole is apprehensive due to its heavy reliability on the US economy.
Breakout range for Infosys would be 1500 and 1700. Initiate your longs or shorts accordingly.