Global Stock Indices
In the previous session, S&P500 made a high of 2958. For today and tomorrow, market is again positive. S&P500 may move up to 3000. It has support at 2900. NASDAQ has support at 8900 while DOW has support at 24100. On Monday, gap up opening is possible.
On Friday, the Mercury-Uranus conjunction will happen and can lead to major uptrend. It’ll be a broad range day.
Either next Monday or Tuesday, a small correction is possible. Overall, we are bullish till 8th May 2020. S&P500 can move up to 3000 if it does not drop below 2900. We asked you to buy GILEAD, AMAZON, MICROSOFT, ALPHABET and TESLA at dips on Tuesday. TESLA’s & ALPHABET’s results are highly encouraging.
TESLA may move up to 900. It is advised to book profit. We are also long in APPLE. Today, APPLE’S earnings will be announced. It can make a considerable profit. Remain long in market at dips. We asked you to long O (REALTY INCOME CORP) @ 51.30. It made a high of 57.00.
Add long in S&P500 @ 2920.
HK market is closed for today and tomorrow.
Indian Stock Market
Indian market will open gap up. Market shall remain positive till 13.45 HRS. After 13.45 HRS, profit booking is possible. On Friday, Indian market shall remain closed. On Monday, gap up opening is possible.
Book profit in Nifty around 9750-9800 and again buy at closing. Overall, the stock market is bullish with volatility till 8th May 2020. Nifty has support at 9600 and Bank Nifty has support at 20000. Until 8th May 2020, the market is overall positive.
Crude Oil
We went long in Oil @ 10.20 (June contract) with S/L 9.70. It made a high of 16.77 in the previous session and is currently trading around 16.40.
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