USA Stock Market
Market may trade mixed to positive for Monday & Tuesday. On Wednesday, market may move up. On Thursday-Friday, it’ll be back to negative track. Sharp decline is possible from 30th (after FOMC on 29th). This downtrend may continue for next week. Weekly closing is expected to be bearish.
S&P500 has a support at 3189. In today’s Asian hour, it made a low of 3192 and reversed. It may move up to 3235-3255 on the higher side. Resistance lies at 3236. If it breaches 3190 then more of downtrend may be observed.
AAPL has support at 355. We asked you to long AAPL on Friday (it made a high of 371 wherein profit was booked). It may move up to 385-390 by Wednesday. It has resistance at 400. At higher levels, you can short AAPL with S/L 401.
Day traders can long S&P500 with S/L 3189 for target 3230-3240.
Long MRNA with S/L 68 for target 85.
Indian Stock Market
Indian market may trade mixed for today and tomorrow. On Wednesday, uptrend is indicated. On Thursday-Friday, downtrend may be observed which may continue for next week.
Nifty has support at 11100 and resistance at 11255. If it crosses 11255 then it may move up to 11300-11350. If it breaches 11100 then it may drop down to 11000-10800.
Bank Nifty has support at 22400 and resistance at 23200.
Today, market is expected to close slightly downward.
Intraday perspective: market may behave in range-bound manner until 11.00 HRS. From 11.00 to 13.00 HRS, uptrend is possible. From 13.00 to 15.30 HRS, mixed to downtrend is indicated.
Precious Metals
Bullion is positive until mid-August2020 (with volatility). In the current week, there would be uptrend till 29th July. On 30th-31st, trend may be mixed. Gold has support at 1880-1878 and resistance at 1920. Silver has support at 22.40 and resistance at 24. Long bullion at lower levels.
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