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Stock market shall continue in weakness till 18th October 2014. In this time frame, S&P500 can drop to 1,905.

Your strategy should be to “sell” stock indices on rise.

For today as well, market shall continue in weakness with volatility.  This weakness shall continue for next day as well. On 4th, Mercury shall retrograde. From there, stock market can start experiencing fall, which would continue till 18th October 2014.

PRECIOUS METALS

Bullion went highly volatile in the previous trading session owing to the Scorpio Moon. SILVER made a low of 16.90 while GOLD made a low of 1,205.

Astrologically, we feel that the trend shall be positive for today and tomorrow. I am not very sure about it.

Avoid trading without stop loss.

Use a stop loss of 16.70 for Silver & 1,201 for Gold.

4th October onwards, I see a short term bull trend, which would continue till 18th / 24th October 2014.

After that, a sharp decline is expected in which, Silver can drop to 14.75 & Gold can drop to 1,000.

Positional traders are advised to close their long position in bullion by 18/24th October and enter short position.

MCX TRADERS

MCX traders are advised to not hold long position for next day. Whatever position you have, shall be closed today as market is entering into a series of holiday(s).

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