GLOBAL STOCK INDICES
Today, it is the FOMC rate hike related event and so big moves shall be observed. You should be prepared for hyperactivity in the market.
After FOMC, a fall is indicated, which may continue till Monday.
I still think that by Friday, S&P500 can fall down to 1900.
Today, Sun is moving to Virgo at 12.30 HRS IST while Mercury is retrograding after 10 minutes of FOMC.
Whenever Mercury retrogrades, the trend of the market gets reversed.
PRECIOUS METALS
Bullion shall be positive till 21.00 HRS IST. 1135 shall be a major resistance for Gold. If it is crossed, it’ll jump with a much higher velocity. However, after FOMC, a fall is indicated in price of Gold and Silver.
Around 1130, you can short GOLD with stop loss of 1135 for target 1100.
Hold short position in Silver with stop loss 15.10. If 15.10 is breached, it’ll move up to 15.50-16.00.
CRUDE OIL
Maintain stop-loss of 48.10 with short position in crude oil. After FOMC, a sharp fall is due in Oil which may last till Monday.
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