Stock Markets Around the globe
Stock market as mentioned already has some support for the day. This support shall be removed from next week.
The current bull-run started from 8th August 2014. This bull -run shall have its last day, today.
In next week, weakness shall be seen with volatility.
S&P500 can go down to 1,960. This weakness is for small time frame. After 15th October 2014, it shall take support and move in positive direction.
From 2nd November 2014, one sided bull trend shall be seen. This shall continue till Mid-Feb 2015.
For today, profit booking is expected at higher level.
You can also make short position in stock indices & hold for next week considering the fact that we see a negative trend very soon.
Since quite some time, our view for bullion has been wrong. The final turning point for bullion is on 23rd / 24th September 2014.
From 4th October 2014, one sided bull trend is expected. This shall continue for the month of Oct 2014.
Gold made a low of 1,216 while Silver made a low of 18.30.
Either the low has been made or shall be made on 23rd September 2014.
From UK opening, Gold and Silver shall get support.
Copper shall move in positive direction today.
In next week, Copper shall move in bullish tone.
Crude Oil shall may trade weak for the day.
By 19th October 2014, a big bullish trend is expected.
In this time frame, crude can cross $110/bbl.
Positional traders can long crude oil at lower levels.
EUR/USD shall be in pressure till 23rd Sept 2014. And there, it should take a U turn.
INDIAN RUPEE (USD/INR)
USD/INR shall be range-bound for the day.
In next week, positive trend is expected. 60.00 shouldn’t be breached and it shall again cross 61.00 in coming days.
Dollar Index shall trade in positive trend till 23rd September 2014. From 24th, a final downside trend shall be observed, which would continue for some time.
INDIAN STOCK MARKET
Indian market shall be positive in first half of trading session. In the second half, profit booking is expected.
It is the last day for planetary condition to support the market. From Monday, market shall enter a bearish phase for some time.
It is advisable to “sell on rise” (especially on Bank Nifty and Banking related stocks).
BUY NIFTY PUT OPTION FOR 7,900.
& BANK NIFTY PUT OPTION FOR 15,800.
# NIFTY FUT:8,170-8,070
# BANK NIFTY:16,300-16,100
- RELIANCE POWER
- TATA STEEL
- AXIS BANK