What’s next in stock and bullion? Will S&p500 decline more?

Stock Markets Around the globe

Last day, DOW FUT made a low of 16,600 while S&P500 made a low of 1,919. For today, some recovery may be observed. It is advisable to short indices at higher level (for instance- Short S&P500 FUT@ 1,960-1,965, DOW FUT @ 16,850-900. By 18th October 2014, S&P500 (F) could drop to 1,905-1,880 while DOW(F) could drop to 16,400-16,200).

TRADING RANGE:

–        DOW FUT: 16,650-16,880

–        S&P500 FUT:1,935-1,962

–        NASDAQ FUT:3,960-4,015

–        FTSE FUT: 6,410-6,490

–        CAC FUT : 4,240-4,330

–        DAX FUT: 9,200-9,350

–        HANG SENG:22,500-22,780

–        AEX:406-413

PRECIOUS METALS

A sharp decline may be seen in bullion today. Stay away from Gold and Silver for the day.

However from 20.30 HRS IST, recovery may be observed. If this mentioned recovery is seen in market then bullion shall start moving up. Otherwise, bullion shall turn positive from Monday.

TRADING RANGE:

–        GOLD :1,219-1,204

–        SILVER:17.30-16.80

INDUSTRIAL METALS

Mixed trend is expected in Copper.

Trading Range:

–        COPPER:3.03-3.05

ENERGY PRODUCTS

CRUDE OIL & NATURAL GAS

Crude Oil made a low of 89.90. Crude Oil and NG are uncertain for today as well. For once, Crude may drop down to 88/85.

Trading Range:

–        CRUDE: 92.50-89.00

–        NG:3.88-4.05

CURRENCIES

EURO

A sharp correction is expected in EUR/USD today.

In the previous trading session, EUR/USD made a high of 1.2690.

For today, EUR/USD can break 1.2500.

INDIAN RUPEE (USD/INR)

HOLIDAY

DOLLAR INDEX

Dollar Index shall move up for the day.

TRADING RANGE:

– EUR/USD: 1.2680-1.2480

-USD/INR(SPOT):CLOSED

-DOLLAR INDEX:85.70-86.50

 

US 10 YR-TREASURY BOND

For today, bonds shall drop.

TRADING RANGE:

-US 10 YR T BOND:2.40-2.52

INDIAN STOCK MARKET

Owing to  dussehra, Indian market shall remain closed for the day.

On Monday as well, owing to Eid, it’s a holiday.

TRADING RANGE:

–  NIFTY FUT:CLOSED

-BANK NIFTY:CLOSED

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