Market Analysis: Global and Indian Stock Indices, Crude Oil

Market Analysis: Global and Indian Stock Indices, Crude Oil, and Precious Metals

Stay ahead of the market with our comprehensive analysis of global and Indian stock indices, crude oil, and precious metals. Get valuable insights into market trends and potential trading opportunities.

Global Stock Indices

In the previous session, the US market closed positively with S&P500 at 3379. However, slight profit booking was observed during today’s Asian hours, with S&P500 dipping to a low of 3364. A mixed trend is indicated for today, but a major reversal is expected from Friday onwards, potentially extending into the next week. Keep an eye on the support level at 3350 for S&P500, with a breach possibly leading to sharp corrections.

Indian Stock Market

Today marks the weekly expiry in the Indian stock market, signaling high volatility in equities. A sharp correction may begin from Friday and continue into the next week. Nifty (Spot) has resistance at 12250 and support at 12100, while Bank Nifty (Spot) faces resistance at 31865 and support at 31000. Expect Nifty to potentially breach 12000 and Bank Nifty to break through 31000 in the coming days.

Crude Oil

Crude oil is showing signs of a U-turn after reaching a bottom. With support at 50 and resistance at 52.20, anticipate a positive phase starting from tomorrow or next week, lasting until 15^th March 2020. Consider booking partial profits in crude at 51.50, with positional support lying at 49.00 (closing basis).

Precious Metals

Bullion seems to have found its bottom, signaling positivity for today and tomorrow, especially tomorrow. If Gold climbs up to 1580-1582 or Silver rises to 17.80, consider booking 50% profit in each metal.

Keep a close watch on these market trends and plan your trades accordingly to capitalize on potential opportunities.