[Holi Gift for Viewers : part of Daily Newsletter for 24th March 2016]
Global Equity Indices
Trend shall be bearish for the day. S&P500 FUT may close at 2020 or lower. DOW JUN FUT may close at 17350 or lower.
On Monday and Tuesday, it is the Scorpio Moon. Saturn shall retrograde on 25th – this shall bring a highly bearish trend in the market which may continue till Wednesday. In this trend, S&P500 JUN FUT can drop to 1980 or lower. It is advised to carry the short position for next week.
On Monday, Asian market shall have a gap down opening. UK and HK market shall be closed on occasion of Esters on Monday. Investors may hold short position in UK and HK market for Tuesday.
Bullion shall continue to be in weakness for the day. Gold may drop to 1205-1190 while Silver may drop to 15.00-14.90. Around Monday-Tuesday, a sharp bounce is seen in bullion. Gold may move up to 1250 while Silver may move up to 15.60+. At today’s closing, you can long 50% position in Gold and Silver. Hold this position for next week.
MCX traders can accumulate 50% long position in bullion at today’s closing hour.
Crude oil shall continue to be in bearish trend for the day. It may drop to 38.
On Monday, slight bounce is anticipated. On Tuesday, a sharp decline may be observed.
At Monday’s closing hour, you may long oil.
Book 50% profit in crude oil (APRIL FUT) at 39.66 and rest 50% at 38.
At closing / level of 38, you may add long position for Monday.
EUR/USD shall be negative for today. It may drop to 1.1140-1.1120. You may close your short position there.
On Monday, a bounce back is anticipated.