Major markets shall experience uncertainty and weakness

GLOBAL STOCK INDICES

Major markets shall experience uncertainty and weakness for the day. Today, S&P 500 can drop to 1970. Positional traders are advised to build short position at higher level. On the higher side, it can go up to 2030 but on the lower side, it can break 1900 by the end of this month.

In this week, the weakest day is expected to be Friday.

If somehow the expected bearishness is not seen on Friday, it may be reflected between 19th and 21st October 2015.

Overall, market is destined to experience falls till mid-November 2015.

Till mid-November, the target for S&P 500 is 1800.

Update: We entered in long position  – S&p500 @ 2006 for next 2 days.

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BULLION

Bullion shall be weak for the day. After US opening, bullion shall move up. From next day and till Friday, trend seems to be in favor of precious metals – trend is bullish.

Today, Gold can drop to 1138 while Silver can drop to 15.20. At these levels, you can close your short position and build long position.

By this weekend, Gold shall move up to 1180 while Silver shall move up to 16.70.

Update: WE ARE LONG IN GOLD @ 1154 & SILVER @ 15.70.

UPDATED @ 18.00 HRS IST – 13TH OCT 2015

CRUDE OIL

Crude oil shall be volatile for the day.

From next day, positive trend is expected.

Till Friday, it can move up to 53.

INDIAN STOCK MARKET

Indian market shall be volatile to bearish for the day. Positional traders can short Nifty on rise. Please note that on the upper side, Nifty Fut can move up to 8300 at the most while on the lower side, it can break 7800 by the expiry.

TRADING RANGE:

  • NIFTY FUT: 8200-8120
  • BANK NIFTY: 17800-17400

BUY:

  • BHEL
  • JET AIRWAYS
  • CENTURY TEXTILES
  • ARVIND MILLS

SELL:

  • TATA MOTORS
  • TATA STEEL
  • HINDALCO
  • TCS

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