Financial Astrology Projections: Navigating Global Stock

Financial Astrology Projections : GLOBAL STOCK INDICES

On 8^th, Mercury is turning retrograde. Market will turn downward for the next 5-6 sessions starting from today. The job data is due today in US; it is expected to be supportive for bullion. S&P500 has resistance at 3031 while DOW has resistance at 27200 and NASDAQ has resistance at 8000. RUSSELL has resistance at 1600. With S/L of 3031 and 8000, short S&P500 and NASDAQ. With S/L of 1600 and 27200, short RUSSELL and DOW.   These stop-loss should be followed on closing basis. S&P500 has support at 2980 which if breached may drive sharp selling. By 14^th July 2019, S&P500 can breach 2900.

Financial Astrology Projections : PRECIOUS METALS

Today, it is non-farm payroll announcement which is supportive for bullion. Saturn is going to enter Libra navmansha on 7^th July 2019.

It is bullish for bullion (especially for Silver). The top of precious metals will be made in August 2019. Gold Aug has major support at 1380. In coming days, it may move up to 1458. Silver July has major support at 14.80. In coming days, it may cross 16.

INDUSTRIAL METALS

Copper has a potential bottom at 2.63. From next week, major uptrend is possible. Continue holding long position. It may cross 2.80.

Financial Astrology Projections : ENERGY PRODUCTS

CRUDE OIL

From next week, crude may observe considerable uptrend. In August 2019, a new high of 2019 may be made.

CURRENCIES

EURO (EUR/USD)

Long EUR/USD at lower level.

POUND (GBP/USD)

Long GBP/USD at lower level.

YEN (USD/JPY)

Short USD/JPY at higher level.

INDIAN RUPEE (USD/INR)

Due to union budget, USD/INR may go through weakness. At today’s closing hour, one can long USD/INR. Major volatility may be observed today.

DOLLAR INDEX

Short dollar index at higher level for target 95.60.

Indian Stock Market

Today, it is the union budget. After 49 years, it is for the first time that a female politician will be presenting the annual budget. The focus of budget will be on infrastructure, agriculture, health and employment. Steps may be taken to attract domestic as well as international investment. There can be minor additional benefits in income tax returns. To reduce the import of Gold, government may take some new steps. Luxury items, vehicles and tobacco may witness higher taxes. There can be additional deductions for small housing loans. Higher taxes may be imposed on household luxuries. Section 80C limit may be extended slightly. Some direct and indirect taxes may be hiked. There are slim chances of discount on STT (securities transaction tax). It is possible that Gold may observe additional duty. To reduce bad debt for banks, government may announce schemes. The government may try to reduce fiscal deficit and maintain GDP with this budget’s attributes. Overall, this budget will be strong and enforce higher compliance.

The top of equities will be made today. Here onwards, market may enter a corrective mode till 14^th July 2019. Technically, Nifty has support at 11900 AND resistance at 12100 and Bank Nifty has support at 31000 and resistance at 32000. With S/L (on closing basis) of 12000 Nifty (Spot), short Nifty for target 11750-11600.

As per astrology, market may observe correction by 14^th. Then onwards, market will be bullish with volatility till 20^th August 2019.

For today, heavy volatility is expected both side till 12.00 HRS. From 12.00 to 14.00 HRS, market may again move upward. From 14.00 HRS, market may observe sharp correction.

Day traders shall be alert. S/L may not work in today’s market.