Indian Stock Market
Indian market traded as per our prediction on Wednesday. Our prediction proved to be 100% accurate. After ten minutes of opening, Nifty declined heavily. Nifty opened at 10700 and went through a sudden decline after 10 minutes. The closing was at 10450. Bank Nifty opened at 25900 and closed at 25150.
Today as well, market will open gap down. After gap down opening, it will further correct. It shall remain downward till 10.30 HRS IST. From 10.30 to 14.40 HRS IST, mixed to positive trend may be seen; technical bounce back may be visible with some volatility. Again after 14.40 HRS IST, a downside trend is seen.
In next week as well, market is downward till Wednesday. Nifty may breach the mark of 10,000 while Bank Nifty may breach 24500. Nifty has support at 10200 while Bank Nifty has support at 24800.
Today’s strategy: cover short position before 10.30 HRS IST. Around 14.40 HRS IST, again make short position for next week.
Global Stock Indices
US market is going through a phase of uncertainty and bearishness as per our prediction. Any bounce back shall be seen as an opportunity to make short position.
We asked you to book 50% profit in DOW @ 25420, NASDAQ @ 7162 and S&P500 @ 2778. Hold remaining short position.
This bear trend may continue till next week. S&P500 can breach 2700 anytime soon. NASDAQ may also breach 7000.
One can add short in S&P500 @ 2810.
This downtrend will continue till next Wednesday.
It is advised to book 50% profit in European and Asian markets at current market price. Hold remaining position and add short at bounce back. Book 50% profit in AEX at CMP.
Precious Metals
Long Gold with S/L 1220 and Silver with S/L 14.40. Trend is favorable for today. Positional traders can hold long position. By next week, Gold may cross 1260 while Silver may cross 15.
Crude Oil
Crude breached 69 in the previous session. In next week, it may correct down to 64. Around 70, one can again short crude oil.
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