outlook for 2nd aug

the moves in the market are now being dicatated by what is happening in the global markets .

last week it was rbi policy which pushed the market down and now its the US debt crisis .

the european markets were down and out  almost 2to 3% the dow and the nasdaq were down almost 1to 1.5% from where they opened .

so expect a soft opening for the market the market should open down .

but would it stay there .

well that depends on many things .

first the results that have come for maruti and tata motors are below expectation so expect a a downtick there.

then it would depend on gloabal cues if european markets extend thier lossses then expect the NIFTY to slide down further .

anyways the impact of the rate hike is still to be fully refelected on the nifty so you can expect further slides in the market .

so be short and remain short till the  nifty does not decicively break 5550 mark .

so happy trading .