Global Stock Indices
Last week, we were expecting a correction in equities, which wasn’t observed. This has been really disappointing for our team. S&P500 closed above 2,095. If S&P500 sustains above 2,102 then has chances to move up.
We don’t expect S&P500 to cross the high of 2,120.
Technically, S&P500 is bullish but as per astrology it is felt that a correction is due on Monday / Tuesday. And from Wednesday, markets shall reverse.
Stock indices shall remain positive till Friday. In next week, positive trend is expected.
In the correction due between Monday-Tuesday, S&p500 can drop to 2,060. At this level, you should cover your short position and build long position. In next week, market shall be highly bullish.
You are advised to make long position in Auto, banking, metal, FMCG related stocks on Tuesday at lower levels. You can buy TATA DVR.
Gold & Silver mining stocks shall also be positive.
Copper related stocks shall also be positive.
A dip is expected by Tuesday: 14.00 HRS IST.
It is advisable to make long position at this dip.
Tuesday’s evening onwards, it is expected to move up gradually & this positive move shall last till Thursday.
On Friday, a correction is expected.
In next week, again a positive trend is expected.
In this week, Gold can drop to 1,190 & go up to 1,220.
If Gold sustains above 1,226 then it can go up to 1,238.
Similarly, Silver on the lower side could drop to 16.00 & on the upper side it could move up to 17.20. If SILVER sustains above 17.20, it can go up to 17.80.
Strategy for this week:
- Buy around dips of Monday-Tuesday.
- Cover this long position at higher levels by Thursday.
- And on Thursday’s night, make short position for the expected down trend due on Friday.
On Friday, you can cover short position at lower level & make long position for the positive trend next week.
Copper shall be especially bullish in this week. At every dip, you are advised to long Copper as it can go up to 2.80 in this week.
In the first 2 days of this week, crude oil shall drop.
It can drop to 49.00 / 48.00. At these levels, you could cover your short position & make long position for target 54.00 in next week.
In medium term till June, Crude can cross 60.00$/bbl.
INDIAN Stock MARKET
Overall, market seems to be positive but on Monday, weakness may be observed.
On Tuesday, it is a holiday.
Wednesday onwards & up-to Friday, trend shall be positive.
NIFTY FUT is technically bullish above 8,840.
BANK NIFTY is technically bullish above 19,050.
- NIFTY FUT: 8,850-8,720
-BANK NIFTY: 18,990-18,500
Buy on dips (for this week):
Incoming search terms:
- bank nifty19000 closing price today