Global Equity Indices

It was already indicated that S&P500 would take support at 1980 and bounce back – this was observed in last trading session. We hope you bought S&P500 Fut at lower levels. You are advised to book 50% profit at 2020 and hold rest with stop loss 1980 for target 2040-2050.

This week is expected to be uncertain. Next week may bring bullish trend for the stock market.

On Wednesday and Thursday, Moon shall be in Scorpio which may make the market pretty uncertain. Yet, astrology has some indications for slight positive trend.

Today, major markets are expected to recover but pressure may be observed at higher levels.

In February, market shall be bullish. S&P500 can cross 2080.

TODAY’S TRADING RANGE: *March Contract for FUT

• DOW (FUT):17050-17300
• S&P 500 (FUT): 2000-2040
• NASDAQ (FUT): 4500-4560
• FTSE (FUT):6080-6170
• CAC(JAN FUT): 4520-4670
• DAX(FUT):10300-10480
• AEX(JAN FUT):430-442
• HENG SENG(FUT):21100-21550

PRECIOUS METALS

It was indicated in the last newsletter that Gold may move up to 1080. We hope you made profit in long position of Gold @ 1063. Gold made a high of 1083 while Silver made a high of 14.20.

Today as well, Gold shall be supportive.

Astro-support lies at 1060 and resistance lies at 1084. If the resistance is crossed, it may achieve 1093.

We had asked our clients to long MCX GOLD @ 25050. Last day, MCX Gold made a high of 25525. Similarly, MCX Silver was recommended to be bought @ 33400. Last day, it made a high of 34160.

Today, Gold and Silver shall remain positive.

Next week shall be more positive for bullion.

In February, Gold may hit 1140.

TRADING RANGE:

• GOLD: 1070-1083
• SILVER: 13.80-14.20

INDUSTRIAL METALS

Copper shall remain supportive for the day.

TRADING RANGE:

– COPPER: 2.07-2.10

ENERGY PRODUCTS

CRUDE OIL

Crude Oil moved both sides in the previous trading session. First it went up to 38.50 and then declined to low of 36.50. If you consider medium term trend till February, it’ll hit $45/bbl.

For today, trend may seem to be supportive for crude oil. Long crude oil at lower levels with stop loss of 36.

Positional traders are advised to long 50% position at current level and at 34 – hold this position for target $45-54/bbl.

NG

NG made a high of 2.35 in the last trading session. A major resistance for NG lies at 2.46 and support lies at 2.20.

TRADING RANGE:

• CRUDE: 36.00-38.50
• NG : 2.22-2.35

CURRENCY PAIRS

EURO

EUR/USD made a high of 1.0950 in the last trading session and low of 1.0780. You may long EUR/USD @ 1.0820-1.0830 with stop loss of 1.0780 for target 1.0950.

USD/INR

Sell USD/INR on rise. By next month, USD/INR is anticipated to drop below 65.

DOLLAR INDEX

Sell dollar index on rise.

TRADING RANGE:

• EUR/USD: 1.0810-1.0940
• USD/INR: 66.60-66.20
• DOLLAR INDEX: 99.30-98.50

US TREASURY BONDS

Long US 10 Year Treasury bonds at 2.28 and US 30 Year Treasury bonds at 3.02.

TRADING RANGE:

US 10 YR TREASURY: 2.28-2.20

US 30 YR TREASURY: 3.02-2.94

INDIAN STOCK MARKET

In the last weekly newsletter, we had mentioned of the possible negativity on Monday. A sharp fall was observed in the Indian equities. Nifty Fut made a low of 7792 while Bank Nifty made a low of 16610.

Today, a recovery is expected in the market.

This week may prove to be slightly uncertain but next week is anticipated to be positive for the Indian stock market. The month of February may witness Nifty crossing 8300.

TODAY’S TRADING RANGE:

• NIFTY FUT : 7790-7880
• BANK NIFTY: 16600-16850

BUY ON DIPS:

• RELIANCE INFRA
• RELIANCE CAPITAL
• RCOMM
• SBI WITH S/L 219
• SRS
• WIPRO
• YES BANK S/L 678
• PETRONET

Authors: Rajeev Agarwal & Shashi Prakash Agarwal | Sent @ 1/5/2016 7:33 AM| (IST = GMT +5.30HRS )|Disclaimer: The view contained in this report is for educational purpose only. Decision to trade remains with investors and hence, neither MADPL nor any of its associate shall be liable for any losses / profits gained.

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