GLOBAL STOCK INDICES
It is a half day in US market and so we are not expecting considerable move today. Next week seems to be bullish. S&P500 can shoot up to 2135.
Bullion shall be range bound for the day. In next week, Gold may cross 1100 while Silver may cross 14.60.
You are advised to hold 50% long position for next week.
Crude oil shall be positive for the day. In next week, it shall cross $45/bbl.
Buy EUR/USD on dips for next week. In next week, we are expecting EUR/USD to cross 1.0720.
Dollar index shall drop to 98 in next week. You are advised to short dollar index at higher level.
INDIAN STOCK MARKET
Indian market shall be volatile for the day. At higher level, profit booking may be observed. Next week shall be bullish for Indian equities – Nifty Fut may cross 8,000 while Bank Nifty may cross 17500 in this time period.
- NIFTY FUT: 7840-7950
- BANK NIFTY 16900-17350
BUY ON DIPS:
- TATA MOTORS
- RELIANCE CAPITAL
- RELIANCE INFRA
- YES BANK
- ICICI BANK
We had asked you to long DLF last day – it made a high of 117 and closed at 114.