Global Stock Indices
In the previous session, US market traded as per our prediction. We asked you to long S&P500 at 3248 in the early morning yesterday. Yesterday, we asked you to book profit at 3294. There onwards, it moved up to 3306. It closed at 3297.
Today, it is advised to short S&P500 around 3295 for target 3270-3250 with S/L 3311. Once it drops to 3250, cover short position and enter into long. Today, market is slightly bearish. It is Trump’s impeachment which may lead to volatility and weakness in the stock market. In the next session, market will again trade positive. The impeachment may fail against Trump. On Monday, we asked you to long TESLA at 710. It crossed 900 in the previous session. It closed at 880. Around 890, we asked you to book profit in long position. By tomorrow, it may move up to 1000. TESLA has support at 840. You can long TESLA at lower levels. But use S/L strictly. Around 306, we asked you to long APPLE. It made a high of 318 in the previous session; we’ve booked profit. We went long in AMAZON @ 2010, FB and NETFLIX on Monday. NETFLIX went up by 3% in the previous session while FB went up by 2% and AMAZON made a high of 2048.
Indian Stock Market
Indian market traded exactly as per our expectations. On Monday, we made our weekly predictions public and mentioned exclusively that Tuesday would be a bullish day.
In the previous session, market covered all the decline that was there owing to the budget announcement last Saturday.
Nifty made a high of 11980 while Bank Nifty made a high of 30800. We have covered our long position yesterday. Today, some weakness may be observed in equities. Nifty has support at 11880 and resistance at 12030. Bank Nifty has support at 30200 and resistance at 31000.
On Thursday, market shall again trade positive.
At today’s closing, you can make 50% long position in indices (Nifty and Bank Nifty).
Precious Metals
We asked you to short Gold at 1598 with S/L 1613. It made a low of 1553.35 in the previous session; we covered short position there and made 50% long position. Around 1540-1520, add long position. Positional target for Gold is above 1700. In the coming days, it may move up to 1600. Book 50% profit in Gold once it reaches 1600. Long Silver around 17.50-17.55 and 17.20 for positional target 19.00-20.00. Around 18.00, you can book 50% profit in Silver.
The trend shall remain supportive for bullion till Friday.
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