Here’s a part of the weekly letter
Planetary conditions :……………………….
Global Equity Indices
The above planetary conditions (especially 12th onwards), indicate a highly bearish sentiment ahead for equities. In the current week, Monday to Wednesday shall be a period of mixed trend. If the market doesn’t fall by 11th then it may start from 12th.
Today, trend is supposed to turn weak after US opening. Positional traders are advised to remain short at higher levels or they may buy put options.
LEVELS & RANGE : ONLY FOR MEMBERS
Bullion shall start in a highly positive rally after 12th October 2017, which may continue for ahead. Till 11th, both side trend is possible.
Last Friday, Gold Dec & Silver Dec contract made lows of 1263 and 16.35.
Gold has resistance at 1293; if it is crossed then considerable positivity may be seen. Silver’s resistance lies at 17.21.
Positional traders are advised to hold long position with Friday’s low as stop loss for gold and silver.
Copper and other base metals shall trade in mixed trend till 11th October 2017. A sharp correction is possible from tomorrow. Positional traders shall short Copper at higher levels.
Crude oil may remain upward for the day. From tomorrow, downside trend is possible. It shall remain negative till Friday. On the lower side, it may drop to 48-46.
From next week, trend seems to be bullish. It is advised to long oil at lower levels in the current week.
Buy NG @ 2.80-2.75 for a positional rally that will lead to 3.20 in next week.
Cover long position in EUR/USD @ 1.178000-1.18000 and enter into short position. In next week, it may drop to 1.16000 or lower.
USD/INR may move up to 65.80 in this week. With S/L of 64.80, long USD/INR on dips.
Buy Dollar index @ 93.00-93.20. In this week, it may cross 94. In next week, it may further reach 95.
It is advised to short USD/JPY at higher prices. In next week, it may drop to 111.00. On the higher side, it may move up to 113.50.
US Treasury Bonds Yield
Bonds shall be slightly strong till 11th October 2017. From 12th, a sharp correction shall start in yield which may continue for some time. Positional traders are advised to hold short position.
INDIAN STOCK MARKET
Indian market shall be moving closer to a possible decline from 12th. Next day seems to be bearish but considerable fall is expected after 12th.
Intraday perspective: Trend is weak till 11.15 HRS IST. From 11.15 HRS to closing, recovery is possible.
- NIFTY FUT: 10040-9900
- BANK NIFTY: 24450-24100
The change in position of Venus will lead to decline in value of realty stocks.
BUY ON DIPS:
- PC JEWELLERS
- ARVIND MILLS
- RELIANCE INDUSTRIES
- OBC S/L 124.50 TGT 121-118
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