Global Equity Indices
In the previous session, we went short in S&p500 at 3017 and covered at 2969. We went short in DOW at 25250 and covered at 24925 and long in NASDAQ at 9225 and covered at 9470 (CMP while this newsletter is being written). Short S&P500 at CMP (3050) for target 2970 and DOW at CMP (25760) for target 25000-24900. At lower level, we asked you to long stocks such as APPLE, TESLA, FB, MICROSOFT, JP MORGAN, NVIDIA. Today, it is the Mercury Rahu conjunction. Banking and finance stocks will prove to be highly favorable. JP Morgan, Goldman Sachs and Bank of America can be good picks.
Market will trade both sides today. By Monday, a correction is due wherein S&P500 can drop down to 2970-2950.
Asian markets may trade negative tomorrow. Hence, book profit in long position today.
Indian Stock Market
Indian market traded as per our prediction. It behaved bullish. Nifty made a high of 9365 while Bank Nifty made a high of 18900. Today as well, market shall be overall bullish.
A positive opening is indicated. With some volatility, market will close bullish.
Market may behave uncertain to bearish on Friday. Hence, avoid rollovers at today’s monthly expiry. You can book profit in long position.
Nifty has support at 9200 and resistance at 9500. Bank Nifty has support at 18400 and resistance at 19200.
Today, it is the Mercury & Rahu conjunction which may drive a sizable rally in banking and finance stocks. Bank Nifty may be more positive than it’s Nifty counterpart.
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