Global Equity Indices
From UK opening, a downside correction is indicated in equities.
Next day onwards, US market along with other markets shall turn positive.
S&P 500 FUT may move up to 1895-1900 and then experience a correction down to 1870.
Around 1895-1900, you can book profit in S&P 500 FUT. Around 1860-1870, you can buy back the long position and hold the position for tomorrow.
Positional traders can long gold mining stocks for long term.
TRADING RANGE:: ONLY FOR MEMBERS
Bullion shall experience correction today or tomorrow. It’ll make a low and then bounce back.
Around 1190 (+/- 10) & 15.00 (+/- 0.10), you can long 50% Gold & Silver.
By next Monday, we are expecting Gold to cross 1260 and may even achieve 1270-1275 while Silver may cross 16.
MCX traders can long GOLD @28350-28450 & SILVER @ 36800.
NG is ready to bounce back anytime soon.
Around 1.1140-1.1150, long EUR/USD for target 1.1300 in next week.
USD/INR made a high of 68.56 last week and closed at 68.20. In this week, it can experience profit booking – can drop to 67.80. And recovery is anticipated from 17th, it’ll bounce back to 68.50 by Friday.
In coming months, we are seeing USD/INR above 70.
Dollar index shall be supportive with volatility till Wednesday. Thursday onwards, dollar index shall undergo correction (till next Tuesday).
US TREASURY BONDS
Bonds shall be downward with volatility. Next day onwards, it shall move upward and remain positive till next week.
INDIAN STOCK MARKET
Indian market shall be positive till 11.00 AM IST and then shall undergo a correction. With s/l of 7250, you can make intraday short position in Nifty Fut. But remember to make long position in Nifty fut at closing as next day, trend is supportive for the market.