Global Stock Indices
Last day, we had asked you to short S&P500 @ 2030 and then book profit in 50% position around 2015. We hope you made the trade as per mentioned tips. S&P500 FUT made a low of 2016.
Today, S&P 500 can close negative. On the lower side, it can drop to 2010 or 2000.
From 17.00 HRS IST / 18.00 HRS IST next day, S&P500 shall move back to positive trend after making a low. And then till 26th, stock indices shall be positive.
It is advisable to cover short position by 17.00 HRS IST next day.
Tomorrow, it is the ECB announcement.
DOW DEC FUT: 17150-17020
S&P500 DEC FUT: 2028-2000
NASDAQ FUT: 4450-4405
HANG SENG: closed
It is advisable to short Gold and Silver mining stocks as in next day, a considerable fall may be observed.
Bullion shall be range bound for the day.
Hold short position in Gold with stop loss 1181 and Silver with stop loss 16.10.
Next day, bullion shall experience negativity. However Silver is expected to be more bearish than Gold. Silver can drop to 14.90 while Gold can drop to 1154.
Friday onwards, recovery shall be observed in precious metals. This shall continue to bring positivity till Monday.
Copper and other base metals are ready to move up from lower level. The trend will gradually improve.
With stop loss of 2.33, hold long position in Copper.
– COPPER: 2.34-2.38
Crude Oil shall move up to 45.50 for once. It is advisable to long oil there.
On Friday / Monday, 51 can be crossed.
NG has rebounded from lower levels. It is ready to gradually move up. In next week, it can move up to 2.70.
US 10 YR TREASURY BONDS
The short position made in treasury bonds is supposed to be on hold. It can move down to 2.10 – where you are expected to book profit in short position.
- US 10 YR T-BOND: 2.02-2.10
A fall is expected in EUR/USD next day. It can break 1.1200.
Around 1.1360-1.1380, you are advised to short EUR/USD.
Short USD/INR around 65.20 for target 64.80.
Dollar index shall be positive next day. Hold long position in dollar index – it will cross 95.50 next day.
- EUR/USD: 1.1380-1.1280
- USD/INR: 65.20-64.80
- DOLLAR INDEX: 94.60-95.20
INDIAN STOCK MARKET
Indian market shall be uncertain to bearish till 10.30 HRS IST. And then till 13.30 HRS IST, range bound to positive trend is expected.
From 13.30 HRS IST to closing, bearish trend is expected.
It is advisable to cover short position today itself as on Friday, a positive trend may be seen.
- NIFTY FUT: 8300-8220
- BANK NIFTY: 17950-17700 & BELOW
- BAJAJ AUTO
- JSW ENERGY
- FEDERAL BANK
Updated @ 10/21/2015 8:28 AM (IST)