Gold found good support above $1,290 an ounce on Monday.Spot gold was little changed at $1,292.60 an ounce by 0302 GMT, after gaining nearly 1 per cent on Friday following the weak U.S. data. U.S. gold had slipped about $1 to $1,293.70.

Brent crude rose to $105 a barrel on Monday to come off of a four-month low hit in the previous session, with worries about global oversupply still outweighing concerns about violence in the Middle East and North Africa.

The S&P BSE Sensex was trading 0.80 per cent higher or 203.92 points at 25,684.76. It hit a low of 25531.38 and a high of 25687.77 in trade today.The 50-share Nifty index was trading 0.86 per cent higher at 7667.65. It hit a low of 7622.05 and a high of 7667.80 in trade today.
Infosys is up 3 percent, while Hindalco, Axis Bank, Tata Motors and HUL are top gainers in the Sensex. Among the losers are HDFC, Bharti Airtel, Coal India, Sun Pharma and Cipla.

Today’s Stock Market Trends:
• BUY WHEELS IND (LCP 752.4) ABOVE 755 TG-760-780
• BUY FINTECH (LCP-303.20) ABOVE 304 TG-310-320
• BUY ASTRA MICRO (LCP 133.4) ABOVE 134 TG-138-145
• BUY BOB (LCP-890.20) ABOVE 891 TG-900-910

CapitalHeight’s stock recommendation for 04/08/2014 is GE Shipping Ltd. It has been trading in range from last few days. In today’s trading session, it was down by 3.40%. On the daily chart, it has given trendline breakdown with good volume and made a long black candle. Momentum indicator stochastic has also given negative crossover. All the indicators are suggesting that stock can see downside movement in coming days. Its short term support level is at 320. One can go for short position in this stock below 350. The stock may test level of 325 in coming days.
Our recommendation on GE Shipping is SHORT below 350 for the Target of 342-334.

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