Global Stock Indices
Stock market witnessed another correction in the previous trading session. We had also alerted that a bad news (such as a financial centric one) could come up. Our analysis provided to be right and the fall of energy stocks in American market led to drop. S&P500 dropped from 2,056 to 2,029.
It is expected that market may witness a trend reversal in a day or two.
In next week, till the FOMC announcement, market is expected to be in recovering mode. Post FOMC announcement, market may again witness a series of correction / fall.
This bear mode will be at a mightier scale in the month of January 2015 (especially after first week). Under this time frame (i.e. in Jan 2015), S&P500 could drop down to as low as 1,940.
The year 2015 is not so good for equities. With ups and downs, this bearish mode shall continue till July 2015.
After 18th December 2014, any time, people will lose interest or hope from equities. Their preference may shift to bullion.
In the previous trading session, you had bought S&P500 and booked profit @ 2,055. We hope you made good profit! Today as well, you are supposed to buy back S&P500 with s/l 2,000 for target 2,055-2,075.
BUY DOW FUT with s/l 17,400 for target 17,800+.
European markets as well are expected to recover in a day or two.
22,900 is a major support for HANG SENG INDEX. With S/L of 22,900, you are advised to long HSI for target 23,800.
Trend For Today: Market shall be back in recovering mode and the entire trend of previous day shall be revisited.
TRADING RANGE:: ONLY FOR MEMBERS
Today onwards, Precious Metals shall start declining.
Gold can drop to —- or below while Silver can drop to –.–. This bearish trend with volatility shall continue till 17th December 2014.
- GOLD : 1,229-1,214
Monday seems to be especially negative for the trend in bullion.
INDIAN Stock MARKET
Indian market shall again recover today. However, highly volatile trend / uncertain trend is expected.
BANK NIFTY shall prove to be more supportive than NIFTY FUT.
Major support for NIFTY FUT: 8,300.
Major support for BANK NIFTY FUT: 18,200.
With the major support as stop loss, long NIFTY FUT & BANK NIFTY FUT for target 8,390-8,420; 18,600-18,750 respectively.
n NIFTY FUT: 8,320-8,440
n BANK NIFTY: 18,200-18,700
BANK OF INDIA
The next week shall be supportive for Indian Stock market. For details, kindly wait for the weekly letter.
Updated at 12/12/2014 7:55 AM (IST)
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