Stock Markets Around the globe
On 17th, it’s the federal meeting, which shall be the reason of heavy volatility in the market.
Stock market may tend to be slightly supportive till 19th.
In this time frame, finance, IT & banking sector shall be supportive.
From 19th, Stock market shall trade in negative mood till mid-October 2014.
Asian market shall have negative opening today but recovery is indicated in late hours of trading session.
UK and US market shall as well, recover.
On 16th, Asian market shall have weak opening and then recover till 17th. US market shall follow the same trend. After 17th, US market shall again trade in negative mode.
On 18th, recovery may be seen in major equity indices.
On 19th as well, same trend shall be observed.
Overall, trend is supportive till 19th September 2014.
A big correction may be seen in next week.
BUY S&P500 WITH 1,960 FOR TGT 1,990-1,995.
Bullion witnessed a big correction last week, which has caused panic in traders. The bottom of last week shouldn’t be breached on closing basis in this week.
Any time, in intra-day, if it drops, the maximum extent can be 1,215 & 18.20 (GOLD & SILVER respectively).
I don’t think these levels will be tested in this week.
In current week, bullion can have a bullish run.
Gold can go up to 1,280 while Silver can go up to 19.75.
BUY GOLD @1,230 FOR TGT 1,270-1,280.
BUY SILVER @ 18.50-18.60 WITH S/L 18.00 FOR TGT 19.50-19.75.
I feel that these are the bottom levels for the entire year of 2014.
I am expecting a rally in bullion after 4th October 2014.
15th and 16th are volatile to positive for bullion.
On 17th & 18th, volatility shall be heavy but overall trend is positive.
On 19th as well, market shall be positive.
– GOLD :1,225-1,245
INDIAN Stock MARKET
Indian market shall have negative opening and then recovery.
Second half shall be positive (i.e. from 13.00 HRS IST).
In this week, banking, IT, PSU & auto sector shall be supportive.
# NIFTY FUT:8,050-8,140
# BANK NIFTY: 16,100-16,300
In this week, BANK NIFTY can cross 16,400.
– ARVIND MILLS
– CENTURY TEXTILE
– YES BANK
– BANK OF INDIA
– CROMPTON GREAVES
Updated 9/15/2014 @ 7:43 AM(IST)
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- rajeev parkash