Last day’s letter for review

Global Equity Indices

As per astrology, market seems to be negative for today and tomorrow. On Wednesday, some uptrend is anticipated. On Thursday-Friday, trend shall again be negative.

In next week, market may again undergo correction. Volatility shall be very high. Overall trend for next week is positive.

On 14th, market may trade negative.

North-Korea tested a hydrogen bomb on Sunday. Its major effects are expected in second half of October 2017. The geopolitician situation may worsen in October 2017 as far as astrology is concerned.

S&P500 Sept Fut closed at 2476 last Friday.

Technical resistance lies at 2487 & support lies at 2460. If the support is breached then it may drop to 2420.

US market is closed today on occasion of Labor Day.

PRECIOUS METALS

Bullion shall be overall positive for Monday and Tuesday. On Wednesday, mixed to negative trend is indicated. On Thursday-Friday, uptrend is possible.

In next week as well, it may trade positive.

Gold has support at 1320 and resistance at 1355 while Silver has support at 17.75 and resistance at 18.05. It is advised to book 30% profit here in Gold & Silver @ 1338-1340 & 17.95.

CRUDE OIL

Crude oil shall be rangebound for the day as US market is closed. In next 2 days, it shall move in negative direction. On Thursday-Friday, upward trend is possible. The hurdle for oil lies at 49 and support lies at 46.

INDIAN STOCK MARKETĀ 

Indian market shall be uncertain for the day though gap down opening is indicated. It shall be weak for today and tomorrow. On Wednesday, upward trend is indicated. On Thursday-Friday, trend may again be negative. Nifty has a hurdle at 10035 and support at 9900 while Bank nifty has a hurdle at 24600 and support at 24200.

TRADING RANGE:

  • NIFTY SEP: 10050-9900
  • BANK NIFTY: 24500-24200

BUY ON DIPS:

  • TATA MOTORS
  • ASHOK LEYLAND
  • HERO MOTOCORP
  • CENTURY
  • ARVIND MILLS
  • BOMBAY DYEING
  • RELIANCE INDUSTRIES
  • CENTURY
  • SUN PHARMA
  • ASHOK LEYLAND
  • HERO MOTOCORP

SELL ON RISE:

  • SBI
  • PNB
  • TATA POWER
  • BANK OF BARODA
  • BALRAMPUR CHINI

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