S&P 500 & Other Stock Indices:
In the last 2 – 3 days, we have been stating that S&P 500 could shoot up to 2020-2030.
S&P500 made a high of 2023 last eve. At the most, it has the strength to move up to 2030.
Closing is expected to be around 2000. In next week, it may recover on Monday but we aren’t very sure. Between Tuesday and Friday (next week), S&P 500 will witness a sharp fall.
Till next Friday, S&P 500 can drop to 1960.
Till mid-November 2015, it can break 1900.
Make short position in major stock indices at a higher level for next week.
Sun shall enter debilitated sign Libra on 17th. This shall bring a serious news for the market. It can open up financial scam related to banking. You are advised to keep alert with banking stocks.
Please book profit in APPLE, ALIBABA, MICROSOFT and other mentioned stocks’ long position.
Last eve, Gold made a high of 1190 – where we asked you to book profit. We also advised you to short Gold at 1190.For once, you can book profit in the short position of Gold as it is destined to move up today.
It may re-test / cross 1190. With stop loss of 1170, you can long Gold.
Hold short position in Silver for next week. It can drop to $15/Oz.
Gold may prove to be positive till 21st / 22nd October 2015.
Crude Oil moved up from 45.30. In next week, it can cross $51/bbl.
Hold long position in crude oil with a stop loss of 45.00.
Indian market shall have positive opening.
From 10.00 to 11.30, it shall drop.
From 11.30 to 14.30, it shall be range bound to positive.
From 14.30 to closing, weakness is expected.
In next week, sharp fall is expected. It is advisable to maintain short position at higher levels.
Short Nifty Fut @ 8240-8250 with stop loss above 8300. & Bank Nifty @17800-900 with s/l 18000 for target 17000 & below. .
Wait for expiry as by then it may drop to 7900-7800.
Positional traders can buy PUT OPTIONS in NIFTY for target 8000 (November contract).
TRADING RANGE:
- NIFTY FUT: 8250-8150
- BANK NIFTY: 17900-17600
BUY:
- ARVIND MILLS
- TATA CHEMICAL
- JUBILANT FOOD
- SYNTEX
- IGL
- PATEL ENGINEERING
- TIN PLATE
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