The earthquake in Iran-Iraq border and market updates

 

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Global Equity Indices

The earthquake of Iran-Iraq led to a serious disaster. A couple of years back when Japan went through Tsunami, similar planetary conditions had occurred; which are repeating at the moment. It is likely for another earthquake to hit in the next 10-15 days. Sudden effect may be observed in market.

According to planetary conditions, heavy volatility is being anticipated in equities. Overall, market shall be in weakness. In the previous session, …………………………………………………………………………………………..

S&P500 made a low of 2570. It was advised to cover short position @2571. Then, it rallied up to 2584. Around 2582, we have advised to build short position. Anytime in this week, S&P500 can drop to 2560.

Precious Metals

<<ONLY FOR MEMBERS>>

CRUDE OIL

Crude shall be weak for today and tomorrow. It may drop to 55.50 or lower. With S/L of 57.90, hold short position in crude oil.

EUR/USD

Hold short position in EUR/USD with S/L 1.1700 for target 1.1600.

USD/INR

In the previous session, USD/INR hit a high of 65.45. You may buy USD/INR @ 65.20.

DOLLAR INDEX

Buy Dollar index at lower levels.

USD/JPY

It is advised to book profit in USD/JPY @ higher levels and enter into short position @ 114.00.

US Treasury Bonds Yield

Short Treasury Bonds at higher levels.

INDIAN STOCK MARKET 

Indian market went through a sharp correction in the previous session. For today and tomorrow, trend shall continue to be weak. Nifty may breach 10200 anytime soon.

TRADING RANGE:

NIFTY FUT: 10350-10200

BANK NIFTY: 25550-25200

IT related stocks are supportive and hence you’re advised to remain long in IT stocks. You may keep an eye on PSU stocks. If it closes negative today, weakness may continue for some time ahead.

*** Stock specific instructions in global markets :: ONLY FOR MEMBERS

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