MCX NSE REPORTS – Week Ahead Program ( August 3rd week )

Nifty And Stocks –

Last Friday Nifty ended in red losing almost 100 points from Monday opening at 11178 from 11270. Banking Stocks also ended in red with AxisBank, ICICI Bank , RBLBank, HDFCBank ,etc. losing almost around 2.5-4%.

Now For the coming week as the AGR meeting results are out and reliance seems to be in big trouble as it have to pay 31000 crores of spectrum dues market will open on lower note and may consolidate for the whole week before making a bold move. So, in our lookout this week is that Nifty 50 and Bank Nifty will be sliding towards their support which is 10900  for nifty 50 and 21000 for Bank Nifty and our recommendation will be to buy on sharp dips. RIL could take a major hit and the share price can fall below 2000 in coming week.

Commodities –

Last week Gold/Silver Prices Corrected heavily as Silver fell from weekly open price of 75314 to Friday closing at 67220 similarly Gold prices fell from weekly open of 55049 to Friday closing at 52170. Base Metals showed mixed results as Copper and Lead Gained on weekly basis whereas Nickel, Zinc, Aluminium Fell. Crude oil was still hovering around 5 months high and closed at 3130 while Natural gas gained heavily in the last trading session. Our Lookout on Bullions is neutral until gold silver show some kind of breakout or fall below support , for base metals too this week we can see short moves and sideways movement , for energy sector we are bullish and in our lookout NG and Crude Oil can show bull moves and our recommendation is to buy on dips.

For Professional Calls Of Nifty, Gold/Silver , Crude Oil etc. Contact – +91-7014489506

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