Market outlook for the week 3-7August

Last week we told you all that 4655 level is major hurdle on upside, ad you all must have watched Nifty struggling to cross this level whole week, ad at last crossing it o Friday ad closing near to it at 4637 level. We also said that breaching 4510 mark, ca slide Nifty to 4440-4350, and exactly the same happened last week when Nifty breached 4510 ad made low of 4376.
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Nifty has managed to close above 4610 last week, another weekly close above this level would possibly open very high targets in the short/medium term. In the coming week, Positive global clues, good earnings & new settlements, combined to make the market roaring with an upside movements. Nifty fut will face resistance at 4700-4740, once it crosses and sustain above these levels, we can see markets surging upto the levels of 4775-4830-4965. However the range of 4700-4800 will be of high resistance as indicated by the Options data analysis. Once Nifty fut starts trading and sustaining above 4800, we can see dead bears all round ad bulls will take the charge completely. However contrary to this if markets reverts back from 4775-4830 levels, then we can see some profit bookig coming into the markets and market can slide down to the levels of 4610-4585-4545. Nifty fut has good support at 4545, and break below this level can show some weakness in markets and then one can expect the levels of 4505-4444-4405 in coming days. Nifty range for this week will be 4610-4830,breakout on either side will lead to sharp movements.



We recommend all traders/investors to keep watch on 4800levels, for all long/short trades, this level will be a crucial level for markets and sustaining above this or reverting back from this level, will be action to watch for deciding the market movements in coming days. If Nifty closes above 4800 for 1-2days then all shorts must be covered, because then we can expect a sharp uprise till 4900-5100 levels, with mild coreections in between. However failing to close above 4800, can be a relief for the bears. One must book profits in long positions at 4775-4890-5100 levels,if it comes, as we might see a trend reversal from these levels.




Nifty levels
Resistance- 4775-4830-4890-4965-5100
Support- 4610-4555-4505-4444-4405



Stocks for the week

• Kopran
• Vishal Information
• Universal Cables
• United Spirits
• Kirloskar ferrous
• Elder Pharma
• Glory poly

For all trades,keep trailing your stoploss once the stock is above the buying price. Avoid spike buying.



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