TRADING RANGE:: ONLY FOR MEMBERS
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Stock Markets Around the globe
It is the lunar eclipse today with Moon in Pisces. It is important to mention that it is full moon tonight. This can influence heavy volatility and both side big move in all financial markets.
You are advised to cover 50% short position in various stock indices (such as S&P500 @1,930, DOW, etc). You are supposed to short again at higher level. Market will move up and then decline tonight.
For next day, Asian opening is expected to be negative.
From tomorrow and up to day after tomorrow, a recovery is indicated in global equity indices.
Overall, market is weak till 18th October 2014. It is advisable to “short” indices on rise.
S&P500 can drop to 1,905 any time.
From UK opening, some recovery is expected. We are not in favor of buying but short at higher level.
PRECIOUS METALS
Precious metals shall be bullish till 20.00 HRS IST (especially between 13.00 – 19.00 HRS IST, a big positive move may be seen.).
After 20.00 HRS IST, fall may be seen.
For next day, the trend of bullion is positive.
It is advisable to book profit in long position by 20.00 HRS IST. Intra-day traders can make a short position here and cover it by US Closing & also make long position at US closing for next day’s positive trend.
INDUSTRIAL METALS
Copper shall trade in mix to range bound mode. Some recovery is indicated for the day.
ENERGY PRODUCTS
CRUDE OIL
Crude Oil shall trade in mix trend. In coming days, positive trend is expected. The low of 85.00 won’t be breached. It may cross 95.00 in coming days.
NATURAL GAS
In coming days, a rise of 8-10% is expected.
CURRENCIES
EURO
EUR/USD shall touch 1.2700 today. After 20.00 HRS IST, EUR/USD shall decline. For next day, positive trend is expected. It is advisable to book profit by 20.00 HRS IST.
INDIAN RUPEE (USD/INR)
USD/INR can go up to 62.25 any time.
DOLLAR INDEX
Dollar index shall drop till 20.00 HRS IST. And then, positive trend is expected. For next day, weak trend is indicated for dollar index.
US 10 YR-TREASURY BOND
Bonds can go up to 2.30. After 20.00 HRS IST, trend shall change: it shall start to drop.
It is advisable to cover long position by 20.00 HRS IST.
COFFEE & SOYBEAN
Coffee is expected to fall by 10-15% in coming days. Soybean is also expected to fall by 10-15% in coming days. It is advisable to short COFEE and SOYBEAN.
INDIAN STOCK MARKET
Indian market shall have bearish opening.
Heavy volatility is indicated for the market.
From 11.40 HRS IST, recovery could be observed.
If recovery is observed, market would sustain till closing.
Traders shall be careful for next day could be negative.
TRADING RANGE:
# NIFTY FUT: 7,830-7,950
# BANK NIFTY: 14,900-15,400
BUY ON DIPS:
– RCF
– EMAMI
SELL:
– PETRONET
– HINDALCO
Weakness is expected in banking and metal sector.
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