(Part of the weekly newsletter sent on 1st October 2018).

Planetary conditions this week: This week, Moon will be in Taurus-Gemini-CancerLeo. Today, Pluto turned direct. Venus will retrograde around late US hours of 5th October. On 6th, Mercury will move to Libra.

GLOBAL STOCK INDICES

The week ahead is going to be a holiday in China. On 1st October, Hang Seng shall remain closed. On 2nd October, it shall be a holiday for Indian stock and commodities market on occasion of Gandhi Jayanti. In the previous week, we observed a positive closing for DOW, S&P500 and NASDAQ. Here onwards, global markets will trade bullish until 17th October 2018 (+/- 1 day). In this timeframe, S&P500 can move up to 2980-3000. The current week is slightly uncertain. On 1st and 2nd October, mixed trend is indicated for equities. If the trend is positive on 1st then it would turn negative on 2nd and vice versa. On 3rd, both side trend is predicted but there can be a trend reversal as well. On 4th-5th October, the trend may be positive. Weekly closing for this week shall be upward. We asked you to book 50% profit in S&P500 @ 2930. It is advised to buy equity indices at lower levels (Add long in S&P500 @2905-2900). The next week is going to be positive but may start at lower levels. S&P500 has support at 2888 and resistance at 2955.

 

PRECIOUS METALS

Last week, bullion traded positive as per our prediction. Gold Dec contract made a high of 1197 while Silver delivered a considerable breakout with high of 14.72.
In the current week, trend may be weak on Monday. On Tuesday, trend may turn bullish. On Wednesday-Thursday, precious metals shall trade mixed. On Friday, trend shall again turn positive. The period between 5th and 8th October (+/- 2 days) will observe a news-driven uptrend for Gold and Silver. The overall trend till December shall be bullish. Anytime by October-end, Gold may cross 1266 while Silver may cross 15.50. However by December, Gold may cross 1300 while Silver may cross 17.
Gold Dec contract has support at 1180 and resistance above 1209 while Silver Dec contract has support at 14.20 and resistance at 15.
Today, positional traders can long Gold @ 11881190 and Silver @ 14.40-14.50 or at closing hour.

INDIAN STOCK MARKET

This is going to be a short week for Indian market. On 2nd October, market shall remain closed on account of Gandhi Jayanti. Market shall trade mixed on 1st October. On 3rd, trend shall be positive. On 4th, mixed to negative trend is indicated. On 5th, trend shall again turn positive. From 5th to 17th October 2018, volatile to bullish trend is predicted for Indian equities. In this timeframe, Nifty and Bank Nifty may cross previous high. With S/L of 10880 and 24700, positional traders can long Nifty and Bank Nifty.
Intraday timing: Today, trend is going to be uncertain. Intraday traders should be cautious. Market may behave volatile to weak till 11.45 HRS IST. From 11.45 HRS IST to closing, overall positive trend with considerable volatility is expected.

On 5th October, it is the RBI policy which may boost the banking and finance sector as well as the market.