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Global equities & commodities ahead
GLOBAL STOCK INDICES
Last Friday, global markets declined considerably. S&P500 FUT made a low of 2764.50 and closed at 2779. We asked you to long S&P500 FUT @ 2780 & 2796 with S/L 2764. It is advised to hold long position for target 2810-2820. DOW FUT made a low of 25874 and closed at 25965 while NASDAQ FUT made a low of 6989 and closed at 7030.
At the closing hour, we asked you to long DOW FUT and NASDAQ FUT. When S&P500 touches 2810-2820, book profit in DOW and NASDAQ as well. There itself, build 50% short position at higher level. In this week, higher level for S&P500 could be near 2820 but by Friday, it may retest or even breach 2760.
S&P500 has support at 2740 and resistance at 2830. On 12th, market is bullish. On 13th, opening can be downward. Recovery is indicated from lower levels. On 14th, mixed to positive trend is possible. On 15th and 16th, major decline is possible. In next week as well, downtrend is indicated but next Monday may be positive.
INDIAN STOCK MARKET
Indian market shall be bullish for today. Next day’s opening is expected to be positive while closing may be negative. On Wednesday, trend shall be mixed. On Thursday-Friday, considerable decline is possible. Nifty has support at 10470 and resistance at 10700.
In a day or two, Nifty on the higher side can move up to 10700 or slightly upward. At higher level, book profit in long position and enter into short position. By Friday, Nifty may drop down to 10400 or below.
BUY & SELL STOCKS: ONLY FOR MEMBERS
PRECIOUS METALS
On Friday, Gold went through a considerable decline and made a low of 1207 while Silver made a low of 14.08. Either from today or tomorrow, precious metals shall move up. From 16th, bullish trend is indicated. From the next week, trend shall be more favorable for gold and silver.
Positional support for Gold lies at 1180 and Silver lies at 13.95 while resistance for Gold lies at 1230 and Silver lies at 14.50.
Positional traders are advised to buy precious metals on dips with the above-mentioned stop-loss.
FOR MCX: Positional traders can buy Gold with S/L 30400 and Silver with S/L 36490.
CRUDE OIL
Crude oil made a low of 59.27 in the previous week and closed at 59.84. In the week ahead, it will cross 62. Next week shall be more bullish. Anytime soon, it may reach 65 or above. Major support for oil lies at 58.10. Buy crude oil on dips.
Mr. Rajeev Prakash
Rajeev is a well-known astrologer based in central India who has a deep understanding of both personal and mundane astrology. His team has been closely monitoring the movements of various global financial markets, including equities, precious metals, currency pairs, yields, and treasury bonds.
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