We are happy to announce that Annual Letter was successfully released yesterday.
Here is a part of today’s newsletter.
Global Equity Indices
US market closed bullish in the previous session. UK market remained rangebound and witnessed profit booking. Asian markets traded somewhat positive.
It is the last day of positiveness for the market. In next week, Sun will change position on 14th. On 16th, Mars shall change position.
The trend may change for short term over the next week. A trend reversal is being anticipated. On 15th, US market is closed on account of Martin Luther King Day. On 16th, we are more certain that market would trade downward.
Today, market shall be positive in the first half. In the second half, profit booking is possible.
At the closing hour, it is advised to short equities and hold the rest position for next week. Declining trend may be visible until 17th/18th. On the higher side or closing hour, S&P500 can move up to 2775-2780.
One may short AMAZON, TESLA, APPLE at the closing hour for next week or buy their put options.
Bullion shall be volatile to positive for the day. This may continue for next week. Gold can move up to 1340-1360. Use S/L of 1303 and 16.80 for Gold and Silver.
The bullish trend in gold and silver is expected to continue for the next week as well.
Crude oil shall be bullish in the next week as well. In the day hours, it can be slightly dull. After US opening or around 63-63.20, you can accumulate the long position in oil. In next week, it will cross 65.
NG may undergo a considerable correction by 20th January 2018. It shall not cross 3.30 for now. On the lower side, it can drop to 2.75 or below. Around 3.15, one may short NG.
EUR/USD shall be bullish for the day. In next week as well, positive trend is being predicted. It may cross 1.2100. Around 1.2000-1.2020, long EUR/USD for target 1.2100.
INDIAN STOCK MARKET
Indian market shall open gap up for the day. Profit booking would be observed at higher levels. Overall, trend is upward until 12.15 HRS IST. From 12.15 HRS IST, profit booking is possible. It is advised to short the market at higher levels or closing today. A short-term top is being made today for the market. In next week, we may witness correction.
NIFTY JAN FUT: 10730-10620
BANK NIFTY: 25800-25500
BUY ON DIPS:
- DOLPHIN OFFSHORE
- JINDAL SAW
- JAIN IRRIGATION
SELL ON RISE: