Stock Markets Around the globe

Global markets shall recover from lower levels.

On Monday, trend is expected to be positive.

Last day, S&P500 made a low of 1,945.80.

BUY S&P500 with stop loss 1,945 /1,940 for target 1,975+ in next week.

BUY DOW FUT with stop loss 16,700 /16,740 for target 16,980 in next week.

BUY NASDAQ around lower levels with stop loss 3,840 for target 3,910+. Hold position for next week.

BUY HANG SENG INDEX with stop loss 22,900 for target 23,450+.

Monday’s Asian opening is expected to be positive.

It is advisable to long stock indexes at lower levels.

For rest of details, wait for next week’s letter.

TRADING RANGE:

-DOW FUT: 16,800-16,920
-S&P500 FUT(SEP): 1,952-1,967
-NASDAQ FUT(SEP): 3,855-3,890
-FTSE FUT: 6,600-6,690
-CAC FUT : 4,290-4,360
-DAX FUT: 9,620-9,800
-HANG SENG:23,120-23,400
-AEX:402-409

PRECIOUS METALS

As said in the previous newsletter, Gold and Silver went up.

We had advised to BUY GOLD @ 1,330 & SILVER @21.15-21.20 for target 1,345, 21.45-21.55.

The target was successfully achieved.

21.55 was the high silver made last day.

Gold and Silver shall be volatile for the day.

In the US session, slight correction may be seen (Gold may drop till 1,330 & Silver may drop to 21.20-21.30).

Your strategy should be to “long bullion on dips”.

In next week, we see bull trend for bullion.

Gold may cross 1,365 while Silver may cross 22.00.

INTRA-DAY:

Up-to 14.00-14.30 HRS IST, positivity is expected.

And then correction may be seen up-to evening.

On Monday, opening is positive.

For rest of details, wait for next week’s letter.

TRADING RANGE:

–        GOLD : 1,332-1,342

–        SILVER:21.30-21.65

INDUSTRIAL METALS

We had asked to long Copper @3.23.

Copper made a high of 3.267.

Maintain “buy on dips” for Copper as well.

In next week, Copper shall cross 3.40.

Trading Range:

–        COPPER:3.24-3.29

ENERGY PRODUCTS

CRUDE OIL

With stop loss of $101/bbl, make long position in crude oil.

In next week, Crude shall cross $105.00/bbl.

On Monday, Crude Oil is positive.

NATURAL GAS

NG shall trade in mix to uncertain trend.

Trading Range:

–        CRUDE: 101.50-103.00

–        NG: 4.08-4.20

CURRENCIES

EURO

Buy EUR/USD @1.3560-1.3580 for target 1.3650 in next week

INDIAN RUPEE (USD/INR)

With stop loss of 60.50, short USD/INR for target 59.50.

DOLLAR INDEX

Around 80.50, short dollar index.

TRADING RANGE:

– EUR/USD: 1.3580-1.3620+

-USD/INR(SPOT):60.20-59.80

-DOLLAR INDEX: 80.10-80.40

US 10 YR-TREASURY BOND

10 YR TREASURY BOND made a low of 2.49. In next week, it’ll go up to 2.62+.

And hence, you should short Treasury bond at higher level.

Bonds shall be negative on Monday.

TRADING RANGE:

-US 10 YR T BOND: 2.51-2.57

INDIAN STOCK MARKET

Today, Indian market shall be volatile.

Slight weakness may be seen.

But Monday shall be positive.

NIFTY has a support at 7,450.

In next week, 7,800 could be crossed.

Buy NIFTY on dips with stop loss 7,450.

Bank Nifty has a major support at 14,500.

Buy Bank Nifty on dips with stop loss 14,500.

In next week, Bank Nifty may cross 15,500.

In this week’s weekly letter, we had clearly mentioned that Indian market would decline after 11.00 HRS IST (Thursday).

TRADING RANGE:

=NIFTY FUT: 7,490-7,700

-BANK NIFTY: 14,650-15,250

BUY:

-IDFC

-DLF

-HDIL

-ONGC

-YES BANK

-RELIANCE INFRA

-RELIANCE CAPITAL

-EXIDE