Global Equity Indices
The correction has finished in equities for now. Here onwards, market shall be trading upward until 14th February 2018. In this timeframe, a considerable up move is possible. It is advised to buy equity indices on dips.
Tomorrow & next Monday, the market can experience some pressure. Tuesday onwards, market shall be bullish. S&P500 has a bottom made at 2818 while DOW and NASDAQ made lows of 26050 and 6900.
Here onwards, a rally may start soon. Around 26050-26060- DOW & 2820- S&P500, you may add long position. Buy AEX @ CMP with S/L 554. It is advised to buy Hang Seng on dips.
Crude oil may move down to 63.50 for once again. It is advised to short oil at higher levels (65.40-65.50).
Indian Stock Market
It is a big day for the Indian stock market as the union budget will be announced. It is also the Moon-Rahu conjunction which can bring considerable swing in both sides. Intraday traders shall be aThe budget shall be mixed. In this budget, sectors such as the following shall be promoted:
- Information Technology
- Solar Energy
The government can introduce some good news in context with income tax. Housing finance could be eased. On the other hand, there can be additional burden of taxes (that might not have been expected). The government will find ways to add to its treasury. This may invoke some political controversy as well.
There is less chance of excise duty being lowered on Gold.
Intraday traders shall be alert for the day or may avoid trade for the day (owing to heavy swing).
Market shall be trading upward with considerable volatility. In the last 1 hour, profit booking is possible.
In the short term, Indian stock market is bullish till 14th February 2018.
On Friday & next Monday, there is a chance of mix trend and minor correction. It is advised to accumulate position on dips.
Disclaimer: This is our financial astrology view and meant for educational purpose. You may not trade with this.
Bullion traded as per our prediction. Gold took a U turn from 1333 and made a high of 1350 (April contract). Silver made a high of 17.27. Trend shall be favorable till 8th February 2018. It is advised to buy precious metals on dips.
It is advised to book 50% profit in Gold @ 1350 and Silver @ 17.40. Hold rest 50% position in Gold with S/L 1330 and Silver with S/L 17.