Is market near a reversal?

Global Equity Indices

Market stayed sideways for the previous trading session. S&P500 FUT made a high of 2438 and low of 2428.

Do you remember the BR-EXIT on 26th June 2016?
Can there be a similar geopolitical issue ahead? Today, market shall be range bound to positive in the first half. In the last 90 minutes of trading session, market may undergo hammering / serious correction.

Around 2440-2445, you are advised to short S&P500.

In next week, positive trend is expected. On Monday, trend may be negative.

You are advised to buy S&P500 at Monday’s closing.

Hang Seng may open negative on Monday.

Sell major stock indices at higher prices.

TRADING RANGE: * SEPT Fut

  • DOW (FUT): 21430-21320
  • S&P 500 (FUT): 2440-2425
  • NASDAQ (FUT): 5820-5760
  • FTSE (FUT): 7380-7340
  • CAC(JUL FUT): 5290-5220
  • DAX(FUT): 12820-12670
  • AEX(JUL FUT): 520-512
  • HANG SENG (JUN FUT): 25800-25450

PRECIOUS METALS

Gold and Silver remained sideways in the previous trading session. Today, it is the new moon. After US opening, bullion may undergo a sudden boost-up but we aren’t very sure about it happening.

However, in the next week – positive trend is anticipated. Anytime by the 15th of July 2017, Gold can cross 1330 while Silver can cross 18.00.

Today, it is the new moon as well as Mercury enters Gemini around US opening.

ALERT: Owing to the holiday of Eid-ul-fitr on Monday, MCX shall be closed.

TRADING RANGE:

-GOLD AUG: 1249-1262

-SILVER JULY: 16.48-16.75

INDUSTRIAL METALS

Copper shall trade mixed for the day. Technically, it is bullish only above 2.62.

TRADING RANGE:

COPPER JULY: 2.61-2.57

ENERGY PRODUCTS

CRUDE OIL

On 21st, Crude took a support at $42/bbl. In the previous trading session, it made a high of 43.27. Today, trend shall be sideways to positive.

In the next 2 weeks, it may cross $48/bbl.

NG

NG shall trade mixed for the day. If it crosses 2.95 then shall enter bullish zone & you may add long position for target 3.08. Use S/L of 2.85 in long position.

TRADING RANGE:

CRUDE OIL: 42.40-44.00

NG: 2.87-2.94

CURRENCY PAIRS

EUR/USD

Buy EUR/USD on dips (around 1.1120).

USD/INR

Buy USD/INR at lower levels.

DOLLAR INDEX

Dollar index shall remain rangebound to slightly negative for the day. In the next week, negativity may prevail and dollar index may drop to 96.50.

USD/JPY

Short USD/JPY around 111.60. In next two weeks, it may break 109.00.

TRADING RANGE:
EUR/USD: 1.1120-1.1220

USD/INR : 64.40-64.70

DOLLAR INDEX: 97.37-97.00

USD/JPY: 111.60-110.90

US Treasury Bonds Yield

Short treasury bonds yield at higher price. In next week as well, yield shall trade in negative direction.

TRADING RANGE:

US 10 YR Treasury: 2.18-2.12

US 30 YR Treasury: 2.76-2.68

INDIAN STOCK MARKET 

Indian market shall be negative in the first half. From 12.10 HRS IST to 13.45 HRS IST, news driven positivity is anticipated. Nifty will undergo a jump but you should be alert that from 14.30 HRS IST, sudden fall is expected.

This may continue till closing.

Intraday traders must keep alert.

In next week, overall trend is positive but on Tuesday, gap down opening is indicated.

Positional traders are advised to long 50% NIFTY & BANK NIFTY at today’s closing as the next week’s closing shall be bullish. A new high is possible around next weekend.

Indian and Singapore market shall be closed on Monday owing to Eid-ul-Fitr.

TRADING RANGE:

  • NIFTY FUT: 9700-9620
  • BANK NIFTY: 23850-23600

BUY ON DIPS:

  • AB NUVO
  • M&M
  • WOKHARDT S/L 552 TGT 578
  • DLF S/L 194 TGT 208-215
  • PATEL ENGINEERING S/L 86 TGT 99

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Disclaimer: the information mentioned above is for educational purpose only and shouldn’t be considered as an investment advice. The view is based on combination of astrology and technical analysis.

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