After 15.10 HRS IST, a trend reversal is expected in bullion, bonds and euro v/s usd. You are advised to watch the trend there.
Stock Markets Around the globe
Asian market shall be weak in first half. In second half, recovery is seen. Closing may be positive for Asian market.
European market shall recover from lower levels and may close positive.
US market could be positive for the day. Positivity may be seen on Monday as well.
Overall, stock market is expected to be positive till 19th September 2014. And then, a sharp correction is expected.
Maintain “buy on dips” strategy for indices.
- DOW FUT: 16,980-17,120
- S&P500 FUT:1,990-2,008
- NASDAQ FUT: 4,080-4,110
- FTSE FUT:6,790-6,880
- CAC FUT : 4,430-4,475
- DAX FUT: 9,620-9,725
- HANG SENG:24,490-24,800
- AEX: 417-420
We have been wrong about positivity in bullion. Weakness may be seen for today as well & a final bottom may be seen. Monday onwards, it shall gradually move up with volatility.
After FOMC, recovery shall be seen.
Highly bullish trend shall be seen after 4th October 2014.
The bottom has either been made today or will be made today.
If Gold breaks 1,232, it can drop to 1,225. And if Silver can drop to 18.45.
We shall be watching the trend today and wait for Monday to make any position / recommendation about gold and silver.
If Gold breaks 26,900 then it can drop to 26,800.
The major support of Gold & Silver lie at 26,500; & 40,200 (only if 41,100 is breached).
- GOLD :1,232-1,247
Crude oil shall be in mix trend.
Big positive trend shall be seen only after 17th September 2014.
NG shall trade in mix trend for the day. From Monday, trend reversal may be seen.
- CRUDE: 93.40-91.80
EUR/USD shall be in a tight range.
INDIAN RUPEE (USD/INR)
- EUR/USD: 1.2870-1.2940
INDIAN STOCK MARKET
Indian market shall be volatile in first half.
In second half, recovery may be seen.
On Monday, positive trend is expected.
# NIFTY FUT:8,080-8,150
# BANK NIFTY: 16,100-16,40
- BANK OF INDIA
- ARVIND MILLS
- TATA MOTORS
- TATA CHEMICAL (BUY PUT OPTION FOR TGT 390 IN SEPTEMBER)