Global Stock Indices:

Today, owing to FOMC announcement, market shall be heavily volatile and uncertain. However, as far as astrology is concerned, FOMC announcement shouldn’t bring us a bad news.

We do not expect any major decision from the FOMC announcement and as an after effect, S&P500 would climb up and may try to cross 1,785-1,790. It shall be recommended to book profit in S&P500 at higher levels there itself.  And then for tomorrow, US market could be a bit weak, due to which, we’ll wait for next day to make fresh positions.

Furthermore, next day’s opening for stock market {Asian, European} can be positive.

It is recommended to use a stop loss.

Major support for:

S&P500: 1,760

DOW: 15,600

If the said supports are breached then sharp decline is possible. Use these support levels as your stop loss.

Today’s Trading Range:

–          DOW(FUT):15,720-15,940

–          S&P500(FUT):1,764-1,785+

–          NASDAQ(FUT):3,420-3,490

–          FTSE100(FUT):6,440-6,550

–          CAC40(FUT):4,030-4,105

–          DAX(FUT):9,080-9,150

–          HANG SENG (FUT):22,940-23,300

–          NIFTY(SPOT):6,100-6,200

From the FOMC announcement, we do not expect any major decision {in negative direction}. And hence, around FOMC announcement, precious metals may climb up to higher levels.

You are recommended to book profit there because correction could be observed after FOMC announcement. Tomorrow, opening could be a bit weak for precious metals. Hence again a reminder, that you should immediately book profit in precious metals at higher levels.

Major Support:

GOLD: 1,210

SILVER: 18.80

GOLD (MCX): 28,600

SILVER (MCX): 44,400

Please use the mentioned support levels as your stop loss.

Intra-day astrology indicator:

Up-to 18.30 HRS (IST): Heavy volatility is expected with some weakness.

And then up-to FOMC announcement: strong recovery is indicated.

View on Base Metals:

Copper shall be volatile to positive.

Today’s Trading RANGE:

Copper: 3.28-3.34

View On Energy Products:

Both side trend is indicated in natural gas.

Today’s Trading Range:

–          CRUDE: 98.20-96.20

–          NG: 4.21-4.35

View on Currencies:

Buy EUR/USD at lower level.  After FOMC announcement, book profit immediately (at higher levels).

Stop loss for long position in EUR/USD: 1.3670

Around FOMC announcement, Dollar Index may drop. You can buy Dollar Index at lower levels and hold for the next day.

TODAY’S TRADING RANGE:

–          EUR/USD: 1.3720-1.3840

–          USD/INR(SPOT): 61.50-62.20

–          DOLLAR INDEX:79.80-80.40

 

View on Indian Stock Market

The RBI’s policy is due today. This shall be a reason for heavy volatility and uncertainty in market. It is recommended to use stop loss.

S/L FOR

-NIFTY FUT: 6,150

-BANK NIFTY : 11,200

If Bank Nifty breaks 11,200, it could even go down to 10,850 while If Nifty breaks 6,150 then can drop to 6,080.

However, as far as astrology is concerned, no bad news is indicated from RBI. Market can have a positive trend after RBI’s announcement.

It should be noted that profit booking may be seen around closing hour (owing to FOMC announcement). Do not trade without stop loss.

If RBI’s policy is positive (that’s what we are expecting), banking sector will rise up sharply.

TRADING RANGE:

–          NIFTY FUT:6,150-6,240

–          BANK NIFTY: 11,220-11,450

BUY:

–          RANBAXY

–          DR. REDDY

–          MCDOWELL

–          TATA COMM

–          TCS

–          HCL TECH

You should watch the market. IF RBI’s policy is positive then buy YES BANK, ICICI BANK, TATA MOTORS, MAHINDRA & MAHINDRA, DLF.