15 February 2021: View on global markets

Precious Metals

Gold has support at 1800 and resistance at 1830. It may move upward till 18^th February 2021. On 19^th, lower opening is possible in Asian hours. After 11.00 HRS – 19^th Feb, it may move higher. Silver has positional support at 24.90- if this level is not breached then it may cross …. View is more bullish for Silver.

Industrial Metals

Copper shall be highly bullish. It crossed 3.80. Next target would be 3.95-4.00. Copper has support at 3.68. Uptrend is indicated till 18^th February. On 19^th, profit booking is possible.

Energy

Crude Oil

Crude crossed 60. Support lies at 57. Oil may continue to move higher until 17^th. On 18^th-19^th, mixed to negative trend is possible. From 22^nd Feb to 11^th March, downtrend is indicated. Over the weekend, one can short oil.

For now, you can buy 50% oil with S/L 58 for target 62-64.

Natural Gas

Short NG at 3.04-3.05 with S/L 3.10 for target 2.80.

US Stock Market

The market’s top may be made by 17^th February 2021 around Saturn-Uranus square. On 18^th-19^th, downtrend is indicated. On 16^th, range bound trend is expected. From the next week, ———. S&P500 has support at 3906 and resistance at 3952. DOW has support at 31200 and resistance at 31600. NASDAQ has support at 13700 and resistance at 14000. RUSSELL has support at 2250 and resistance at 2330.

Indian Stock Market

Indian market may behave overall supportive till 17^th. On 18^th-19^th, downtrend is indicated. From next week, this downtrend can extend.

Nifty has support at 15000 – if closing is below this level then major drop is possible. Closing basis resistance for Nifty lies at 15300 – if crossed then it may move up to 15500.

Bank Nifty has support at 35800 and resistance at 36800. If it closes below 35800 then major drop is possible.

Please follow the technical levels. On Tuesday, market may be in a tight range. On Wednesday, positivity may be observed.