Market Timing and Short-term Opportunities,
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, the 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.
TRADING RANGE:
DOW DEC FUT: 17150-17020
S&P500 DEC FUT: 2028-2000
NASDAQ FUT: 4450-4405
FTSE: 6360-6280
CAC: 4710-4620
DAX: 10180-10020
HANG SENG: closed
AEX: 448-440
It is advisable to short Gold and Silver mining stocks as in next day, a considerable fall may be observed.
PRECIOUS METALS
Bullion shall be range-bound for the day.
Hold short position in Gold with stop loss 1181 and Silver with stop loss 16.10.
The 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.
TRADING RANGE:
- GOLD:1180-1165
- SILVER:15.95-15.50
INDUSTRIAL METALS
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.
TRADING RANGE:
- COPPER: 2.34-2.38
ENERGY PRODUCTS
CRUDE OIL
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
NG has rebounded from lower levels. It is ready to gradually move up. In the next week, it can move up to 2.70.
Market Timing and Short-term Opportunities:
CRUDE OIL:45.50-47.00
NG:2.46-2.55
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.
TRADING RANGE:
- US 10 YR T-BOND: 2.02-2.10
CURRENCY PAIRS
(EURO)EUR/USD:
A fall is expected in EUR/USD the next day. It can break 1.1200.
Around 1.1360-1.1380, you are advised to short EUR/USD.
USD/INR
Short USD/INR around 65.20 for target 64.80.
DOLLAR INDEX
The dollar index shall be positive the next day. Hold a long position in the dollar index – it will cross 95.50 the next day.
TRADING RANGE:
- 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, a range bound to a positive trend is expected.
From 13.30 HRS IST to closing, a bearish trend is expected.
It is advisable to cover the short position today itself as on Friday, a positive trend may be seen.
TRADING RANGE:
- NIFTY FUT: 8300-8220
- BANK NIFTY: 17950-17700 & BELOW
BUY:
- PETRONET
- BAJAJ AUTO
- JSW ENERGY
SELL:
- CIPLA
- FEDERAL BANK
Updated @ 10/21/2015 8:28 AM (IST)
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