Part of Weekly Newsletter - 6 January 2020 - Financial Astrology by Rajeev Prakash

Global Stock Indices

S&P500 closed at 3235 in the previous session while DOW closed at 28603. NASDAQ closed at 8811. RUSSELL closed at 1661. Iran-US tension is rising further in Middle East region. We had been clearly mentioning the possibility of this kind of event. This tension will further increase; major impact to be visible from 13^th January 2020. On 2^nd January 2020, the top was made for S&P500 at 3263. This shall act as resistance. If the resistance is not crossed then it can drop down to 3000-2980. For today and tomorrow, market is expected to trade downward. On Wednesday-Thursday, slight positive trend is possible. On Friday, trend may again turn negative. Next Monday, considerable drop is possible. Book partial profit in S&P500 at 3200-3190.

On 15^th, US-China trade deal is supposed to be signed. But there is a chance of issues in this context.

Precious Metals

Gold and Silver made highs of 1588 and 18.54 in today’s Asian hours. Trend is positive till Thursday. In the current week, Gold may move up to 1600 while Silver may move up to 19.00 or above. Gold has support at 1560 and Silver has support at 18.00. Remain long in Gold with S/L 1560 and Silver with S/L 18.00.

From Friday, a drop is possible as Jupiter is rising. It may trade downward next Monday as well.

Anyhow if Gold crosses 1600 then next target would be 1640.

Indian Stock Market

Indian market is expected to trade bearish for today and tomorrow. On Wednesday-Thursday, positive trend is expected. On Friday, opening may be positive but closing will be bearish. Next Monday (13^th January 2020) might have a considerable drop.

In a day or two, Nifty may drop down to 12000. It is advised to book 50% profit there and again short at Friday’s opening.

In short term, there is a high chance for Nifty to drop down to 11800.

If Nifty Spot breaches 12120 then considerable fall may start in Nifty. If Bank Nifty Spot breaches 31800 then considerable fall may start in Bank Nifty.

Intraday perspective: Gap down opening is indicated. It’ll remain downward till 11.30 HRS. From 11.30 to 12.30 HRS, bounce back is possible. From 12.30 HRS to closing, downtrend is indicated. In the closing hour, selloff pressure may be seen.