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Planetary conditions this week:
Moon is in Capricorn-Aquarius-Pisces for the week. On 7th, it is the full moon along with lunar eclipse in Capricorn – Shravan star.
GLOBAL EQUITY INDICES
The above planetary condition is inauspicious for the stock market. Heavy rainfall is indicated; which may bring out flood-like situation. Earthquake or other natural disasters are possible. Aggression at the Indian border may rise. Geo-political tension may increase in the time ahead.
In the current week, Monday-Tuesday may have negative sentiments. Wednesday-Thursday may have mixed trend (i.e. both side trend is possible). On Friday, trend shall again be negative.
On 21st August, it is solar eclipse; which may bring a considerable fall of 5 to 10 percent (in global markets) for the period of 14th to 28th August 2017.
Technical levels for S&P500:
Below 2440, S&P500 SEPT FUT may experience sharp fall.
Today, major markets may move upward in the first move. In the second half, correction may be observed.
Bullion shall be mixed to positive for the day. Next day onwards & until Friday, trend shall be volatile to negative. Gold Dec contract has technical support at 1251 & resistance at 1278 while Silver Sept contract has technical support at 16.04 & resistance at 16.85.
Today, you may book profit in long position of bullion. At higher levels, you may short precious metals.
One may short Copper and other base metals at higher prices. By August-end, we anticipate Copper below 2.60.
Crude oil has a support at 48.40 and resistance at 50.40. Today, mixed trend is indicated. Next day onwards, uptrend is seen as per astrology. The upward trend may last till Thursday.
On Friday, profit booking is possible.
Crude shall be overall positive till 22nd August 2017. In this timeframe, oil may move up to 55.00-60.00.
NG shall be positive for now. In next week, it can move up to 3.10-3.20. It has major support at 2.70 & is advised to be bought at lower levels.
Short EUR/USD at higher prices (50% @1.185000 & 50% @1.190000. In next week, EUR/USD may drop to 1.160000 or lower.
Long USD/INR with S/L of 63.50. By August-end, we anticipate it to move up to 65. On 13th, Mercury is retrograding; which will boost value of USD against INR.
Dollar index shall move up in next two weeks. You may long dollar index @ 93 & 92.50 with S/L of 92.00 for target 94-95.
Long 50% USD/JPY around 110.50 and rest around 109.80 for target 112.00.
US TREASURY BONDS YIELD
It is advised to long treasury bonds yield at lower levels. In the current week, it is expected to move up.
INDIAN STOCK MARKET
Owing to lunar eclipse, market may enter negativity anytime soon. By August-end, a fall of 5 to 10 percent is possible.
Nifty, Bank Nifty Spot has resistance at 10160, 25300 & support at 9980, 24500 respectively.
In this week, Monday and Tuesday are negative. Wednesday-Thursday may be mixed while Friday shall be again negative.
In next week as well, market shall trade downside.
Today, market may behave slightly positive till 12.00 HRS IST followed by correction.
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