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Global Equity Indices

Today, retrograded Mercury shall enter Leo while Jupiter shall combust on 11th of the month. This may bring a big crash in stock market. Next week, market may witness a considerable bearish phase.

S&P500 FUT may drop to 2134 or lower.

Today as well, market shall close bearish.

Intraday traders can book partial profit at 2177 and hold rest position for next week. If 2184 is retested then again short S&P500.

Due to the planetary positions prevailing in this period, banking and financial stocks may decline. Hold short position in Heng Seng for next week. You may add short position in Heng Seng at closing.

TODAY’S TRADING RANGE: * Sept contract

• DOW (FUT): 18520-18350
• S&P 500 (FUT): 2184-2163
• NASDAQ (FUT): 4820-4750
• FTSE (FUT): 6890-6780
• CAC(FUT): 4590-4480
• DAX(FUT): 10750-10540
• AEX(AUG FUT): 463-452
• HENG SENG(FUT): 24200-23700

PRECIOUS METALS

Jupiter is combusting on 11th September 2016.  Bullion shall turn highly bullish from next week. By end of September 2016, Gold and Silver may reach higher levels.

It is advised to long gold and silver on dips.

From 06.00 PM IST / US Opening, Mercury is entering Leo, this shall bring a correction in gold and silver.

It is the Scorpio Moon that may reverse the anticipated trend.

You may book profit in 50% of existing long position in Gold and Silver shall be booked at 1348-1352 and 20.00-20.10. If a dip is seen after 05.30 PM IST, you may accumulate long position in GOLD @ 1335 (+/- 5) & SILVER @ 19.50 (+/- 0.10).

TRADING RANGE:

• GOLD (DEC): 1352-1332
• SILVER (SEPT): 20.00-19.50

INDUSTRIAL METALS

Copper shall follow the trend in bullion. Next week, Copper is positive.

TRADING RANGE:

– COPPER: 2.09-2.12

ENERGY PRODUCTS

CRUDE OIL

Crude oil may witness profit booking for some time. If 47 is breached then you may short oil with S/L 48 for intraday target 46. Do not forget to accumulate long position in oil on dips as next week’s trend is bullish for crude.

The price of crude oil has potentials to reach $50/bbl in next week.

NG

NG is positive for the day. It can move up to 2.88-2.90.

USD/INR

Hold position in USD/INR for next week.

TRADING RANGE:

• USD/INR: 66.30-66.70

INDIAN STOCK MARKET 

It is advisable to maintain “sell on rise” strategy in Indian market as next week may witness market in declining phase.

With S/L of 8921, hold short position in Nifty and S/L of 19600, hold short position in Bank Nifty. If the suggested S/L are triggered you may build short position at closing.

TRADING RANGE:

• NIFTY FUT: 8990-8880
• BANK NIFTY: 19620-19350

SELL:

• BHEL
• SAIL
• JSPL
• DLF
• MOTHERSON SUMI
• YES BANK