Equity Market Analysis

Nifty:

All the global market closed in red last week. The index Nifty is near a very crucial weekly
level of 10915. It has broken down last week but managed to close above it. 10950 and
11150 are important levels for nifty. If it closes below 10950 in hourly candle then it can
fall till 10800. Any upside movement till 11300 is a selling opportunity.

For medium term, If it closes below 10840 on daily closing basis with good volume, then it
can further fall to the levels of 10014 in August and September series.

Recommended Stocks for short term Positional Trading for 5th August:

Buy Voltas: CMP: 611, Buy Level: 605, Target: 640, Stop loss: 590

Sell Wipo Fut: CMP:263, Sell Level: Below 261, Targets: 254 - 240, Stoploss: 271

Commodity Market Analysis

Crudeoil Fut: It is in Range bound mode between 3800 and 4000. Any breakout from these
levels will generate the trading opportunity in the coming week.

Gold Fut: Gold is in strong upward movement after a small correction last week. It can
reach to a level of 36300 if it sustains above 35415.

Silver Fut: Silver is also in very strong upward movement and you can buy if it breaks
above 41550 for a big target of 42850 with a stoploss of 40850.

Intelligent Trader - Technical Analysis of Equity and Commodity Markets

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