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Daily Newsletter (10th November 2015)

Global Stock Indices

S&P500 experienced profit booking at 2096 and dipped to 2065. With stop loss of 2054, make long position in S&P500 FUT for target 2095-2100+.

I feel that a good news may come up in the market that may boost the trend by next day.

However, you should be alert that S&P500 FUT may again drop when it reaches2100 so you should book profit in long position at mentioned levels.

Thursday onwards, a sharp decline may be observed.

You can buy MICROSOFT, APPLE, ALIBABA and FORD for intraday.

Overall, the market is weak till 28th November 2015. In this time frame, S&P500 FUT may go up to 2120 and on the lower side, It may break 1950.

TRADING RANGE:

  • DOW (FUT): 17,620-17,850+
  • S&P 500 (FUT):2065-2095+
  • NASDAQ (FUT): 4630-4710
  • FTSE (FUT):6275-6330
  • CAC(FUT):4905-4990
  • DAX(FUT):10780-10980
  • AEX(FUT):462-470
  • HENG SENG(FUT):22250-22650

 

 

PRECIOUS METALS

Last day, we had mentioned that we are not very sure of the trend on 9th and 10th. For today, we don’t have a very clear view – if the market will move up or not. But a positive trend is expected to start from next day. Gold made a low of 1088 while Silver made a low of 14.40.  Those wishing to trade safe can wait for next day to accumulate long position. Positional traders can buy 50% (GOLD @ 1088-1092 & SILVER @ 14.40-14.50). For rest position, they can wait for tomorrow.  Wednesday-Thursday may prove to be highly positive for precious metals. This positivity may continue till 17th.

TRADING RANGE:

  • GOLD: 1085-1098
  • SILVER:14.20-14.70

INDUSTRIAL METALS

Buy Copper @ 2.20-2.21 and hold for next week.  Copper and other base metals shall start moving up from next day. This positivity shall continue with bullion.

TRADING RANGE:

– COPPER: 2.20-2.25

ENERGY PRODUCTS

CRUDE OIL

Crude made a low of 43.75 last day. Today, it may re-test 43.75-43.50.  Around 43-43.50, you can long crude oil as from next day, we are expecting a positive trend. Crude shall be more positive and continue in positivity for next week.

12th onwards, crude oil shall appear to be more bullish.

NG

NG shall be moving upward for the day. It is advisable to long NG @ 2.25 for target 2.45.

TRADING RANGE:

  • CRUDE: 43-45.50
  • NG: 2.26-2.35

CURRENCY PAIRS

EURO

Buy EUR/USD @ 1.0680-1.0720 for target 1.1050. Next day onwards, positive trend is expected.

USD/INR

USD/INR shall make a top this Monday.

Tuesday onwards, trend shall reverse for USD/INR.

On Monday, 66.50 can be touched by USD/INR. It is advisable to book profit in long position and enter into short position with stop loss 67.

By Friday, it shall drop to 65.50-65.20.

NOTE: We entered into short position for USD/INR last day @ 66.50.

DOLLAR INDEX

A high has been made in dollar index. In the next 36 hours, a news may cause a big fall in price of dollar index. It may drop down to 97 or lower.

TRADING RANGE:

  • EUR/USD: 1.0680-1.0780
  • USD/INR: 66.50-66.20
  • DOLLAR INDEX:99.45-98.80

US TREASURY BONDS

Make long position in treasury bonds @ 2.33-2.35 for target 2.10.

TRADING RANGE:

US 10 YR TREASURY: 2.35-2.28

INDIAN STOCK MARKET

Last day, owing to Bihar elections, Nifty made a low of 7790 and Bank Nifty made a low of 16620. As expected, market eventually bounced back proving our prediction correct. Nifty (Fut) made a high of 7952 and Bank Nifty made a high of 17175. Intraday profit had been booked in long position.

Market may open in gap down trend. After 30 minutes of opening, recovery may be observed. With ups and downs, this may last till closing.

It should be noted that VENUS-Rahu combination may be bad for equities till 28th November 2015. Nifty may drop to 7700 in this time frame.

Do not carry forward long position for next day.

At closing hour, positional traders can build a small quantity of short position in Nifty and Bank Nifty.

TRADING RANGE:

NIFTY FUT: 7850-7990

BANK NIFTY: 16800-17200

SELL:

  • HINDALCO
  • TATA STEEL
  • ICICI BANK

BUY:

  • TATA MOTORS
  • MARUTI
  • TVS MOTORS
  • ARVIND MILLS
  • HTC
  • UB HOLDINGS
  • LIC HOUSING

Authors: Rajeev Prakash Agarwal & Shashi Prakash Agarwal | Sent @ 11/10/2015 7:57 AM

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