Stock Market for 8th August 2014

Stock Markets Around the globe

As expected, the change of position of Venus ignited geopolitical tension. The Ukraine issue is under stake at the moment which didn’t let the American market move up. However, I feel that today, S&P500 should trade positive.

Around closing hour, correction may be observed.

It must be noted that S&P500 went up to 1,924 last day.

With stop loss of 1,888, long S&P500 for target 1,925-1,934.

You are advised to book profit there as next week is not good for S&P500.

Asian and European market can experience recovery. In next week, bear trend is expected. Opening can be positive on Monday for Asian market but I am not sure. Please do not carry long position for next week.

At higher levels, it is advisable to short. The next week seems to be bearish.

After 15^th August 2014, a U turn is expected. 

INDIAN STOCK MARKET

We were wrong with positive opening for Indian market today.

Owing to global cues, market shall open negative.

From lower levels, recovery shall be observed.

Market shall remain uncertain.

On Monday, opening can be positive. However, I am not sure about it.

In coming days, NIFTY could go up to 7,850 at the most while considering the downside, it may drop to 7,400.

You are advised to short NIFTY on rise.

TRADING RANGE:

#  NIFTY AUG FUT: 7,590-7,700

# BANK NIFTY:14,800-15,200