NIFTY DAILY OUTLOOK (08-07-2010)
With the benign global clues we expect the nifty to open with the gap up. Our expectation is that it will consolidate in the 5305-5335 for first half of the day & then march upward depending the news flow of the day. However a close above 5340 will mean a major break out from the consolidation pattern of last 12 days.
(1)BUY IOC around 394.00 or on cross above UPPER TRENDLINE with the stop of 388 for the initial target of 420 & higher.
(2) Buy APOLLOTYRE around 68 with the stop of 66 for the target of 76 in next two weeks.
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