Global Stock Indices
The market can be somewhat positive for the day. The recovery that started previous day can continue for today as well.
From next day, a sharp decline is indicated.
This weakness shall continue for next week as well.
S&P500 can go up to 1960-1965 in today’s trend. You are advised to short S&P500 at such kind of levels for a target below 1900.
You are advised to book 50% profit in long position of S&p500. For the rest, wait for 1960 and once the said level is achieved, you can enter a short position as directed.
Next day, Asian market shall trade positively.
INDIAN STOCK MARKET
Indian market shall be volatile to positive till 13.00 HRS IST. And then, weakness is indicated.
For next day, slight positivity may be observed.
Next week seems weak for the Indian market.
Traders are advised to avoid risky trades as in coming days, the market can experience a sudden fall. Do not follow ‘bottom fishing’ at the moment.
Maintain “sell on rise” strategy for Nifty and Bank Nifty.
BANK NIFTY: 16050-16600
- COAL INDIA
- TATA GLOBAL
- TATA STEEL
- LIC HOUSING
# Profit book in time.
- BANK OF INDIA
- TATA MOTORS