GLOBAL EQUITY INDICES

Last week, Chinese crisis caused a big fall in stocks around the globe. S&P 500 FUT made a low of 1912 and closed at this very level. This week is supposed to be positive for equities. Any time between Monday and Tuesday, a fall may be seen. It is highly possible that market closes positive after making a low on Monday. This week’s closing is expected to be bullish. S&P500 FUT may move up to 1980-2000 in this week. Major support for S&P500 FUT lies at 1880-1900. These support levels aren’t anticipated to be breached. If anyhow breached, it may re-test August’s low of 1867 – chances are really less for this to happen. Major support for DOW FUT lies at 16000.
18th is a holiday in US market.
On Monday, you can accumulate long position over following stocks in US market:
– APPLE
– MICROSOFT
– JP MORGAN
– ABX
– CLF

PRECIOUS METALS

Gold made a high of 1113 last week and closed at 1103 while Silver made a high of 14.30 and closed at 13.93.

This week is anticipated to be bullish for bullion. On Monday, mixed trend is expected. Tuesday to Thursday shall be really bullish for Gold and Silver. On Friday, mixed to weak / profit booking trend is indicated.

On Monday, Gold shouldn’t drop below 1090. On the higher side, it may cross 1120 in this week (especially Thursday) and may even reach 1130-1140.

13.80 is not expected to be breached by Silver and on the higher side, it may cross 14.60.

In this week, Silver is more positive than Gold.

INDUSTRIAL METALS

Monday onwards, Copper shall also be positive.

For the entire week, Copper and base metals shall be positive.

ENERGY PRODUCTS

CRUDE OIL

Crude Oil has major support at 32. Monday onwards, positive trend is indicated. It may cross $35/bbl and even reach $38/bbl in this week.

NG

Monday onwards, profit booking is indicated in NG. 2.48 is a major hurdle – if it is crossed then NG may reach 2.60-2.65.

As per astrology, trend is negative hence you can build short position with stop loss 2.50.

EURO

EUR/USD shall drop on Monday. Tuesday onwards, EUR/USD shall be positive till end of week. On the higher side, it may hit 1.1100 and on the lower side, it may drop to 1.0800.

USD/INR

USD/INR may trade upward on Monday. It may move up to 67. In Tuesday to Friday, it may drop to 66.

DOLLAR INDEX

Dollar index shall trade upward on Monday. On the higher side, it may reach 99 (at the most).

Tuesday onwards, negative trend is forecasted till the weekend – it may drop to 97.

US Treasury Bonds

Monday to Friday shall be weak for US Treasury bonds.

On the lower side, US 10 YR may move  to 2.28-2.30 and US 30 YR may move to 3.00+.

Indian Stock Market

Indian market may experience weakness on Monday. Nifty may retest 7500. 15900 is a major support for Bank Nifty.

TRADING RANGE:

• NIFTY FUT: 7540-7640
• BANK NIFTY: 15900-16400

By this week’s closing, Nifty may move up to 7750-7800 while Bank Nifty may move up to 16500+.

On Monday, you can accumulate long position in following stocks at lower levels:

• L&T FINANCE
• SBI
• MARUTI
• HINDALCO
• KOTAK BANK
• ICICI BANK
• BHEL
• CAIRN INDIA
• HAVELLS
• JUSTDIAL
• JSW ENERGY

Next day, market shall turn positive.

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