Global equity indices
It is an important day as the non-farm payroll announcement is scheduled today. It will impact equities as well as commodities. As per astrology, Moon-Rahu-Jupiter conjunction is there – which is highly confusing, unreliable and unpredictable. It is felt that job data shall be weak which will bring equities to declining trend. However, if the opposite happens, S&P500 will witness a bounce back at US opening but owing to some other reason, market will decline after 1-2 hours.
On Monday, market is expected to open at lower level and then recover. Trend shall remain strong until 15th.
For details, wait for next weekly letter.
Precious Metals
It is expected that Gold and Silver shall move up after non-farm payroll announcement. If this prediction fails then too next week is expected to be bullish.
Crude Oil
Crude oil shall witness slight recovery for the day but selling is recommended at higher level.
By the end of month, Crude can drop to $–/bbl.
Levels and Stop loss : only for members
NG may undergo recovery but it is advisable to sell NG at higher level.
By the end of month, NG can drop to -.–.
EURO
Buy EUR/USD at lower level.
USD/INR
Buy USD/INR at lower level.
US Treasury Bonds
Bonds may trade both sides. Best strategy is to short US 10 YR bonds and long US 30 YR bonds.
Indian market shall be highly volatile to slightly bearish for the day.
On Monday, market may open at lower level but the rest of week is expected to be positive for equities.
Nifty Fut shall not breach 8200 and in coming days, it will climb to 8600-8700.
Wait for Monday to build long position.
TRADING RANGE:
NIFTY JUL FUT: 8400-8300
BANK JUL NIFTY: 18400-17900
BUY ON DIPS (INTRADAY):
– INOX WIND
– AXIS BANK
– LUPIN
SELL:
– TATA STEEL
– IDBI
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