07 May 2020: Prediction on global markets

Global Stock Indices

In the previous session, market closed slightly bearish as per our prediction. You were asked to buy 50% at closing. In the next 3 hours, S&P500 may drop down to 2830-2820 then you can accumulate long position in S&P500, DOW, NASDAQ and RUSSELL. Today’s market will close on a positive note. Following stocks will trade bullish and can be bought: AMAZON, FB, APPLE, NVDIA, BEYOND MEAT, ROKU, MICROSOFT, SHOPIFY, UNITED HEALTH, P&G and TESLA.

On Friday, market may behave slightly bearish. Around 2880-2890, book profit in long position and make short position with S/L 2911; hold this for Friday.

Crude Oil

Crude shall trade positive for today and tomorrow. It can move up to 26-27. From next week, a major drop is possible. By the end of month, June contract may retest 10. We will remain long till Friday and build short at higher level (around 26-27). Closing basis S/L will be $30 for short position. Short position must be built in two installments at different levels.

Indian Stock Market

Indian market shall close positive for the day. However, gap down opening is evident. Market will make a bottom by 11.10 HRS. From 11.10 HRS, it’ll gradually turn positive. With volatility, uptrend shall be visible till 14.10 HRS. After 11.10 HRS, blue-chip stocks (large cap) may see considerable buying. After 14.10 HRS, profit booking is possible. In the last 30 minutes, market will recover and close positive. On Friday, opening is expected to be positive.

Long Nifty around 9100 and Bank Nifty around 19200.