S&P 500 FUT Analysis: Bearish Trend Ahead

View on S&P 500 FUT:

S&P 500 DEC FUT reached a high of 2014. Hold long position in S&p500 – it shall move up for the day and next day.

Around 2015-2030, you are advised to make positional short position as from Friday, market shall enter a region of sharp fall.

This shall continue for next week. In this fall, S&p 500 can break 1900.

You should book profit in long position of stocks by next day.

PRECIOUS METALS: 

Bullion shall be bullish with volatility till Friday. Gold has given a break out by leading GOLD over 1172. Gold if sustains above 1180, can move up to 1200-1220. Trend seems to be positive till Friday. Silver can move up to 16.70.

CRUDE OIL

Crude Oil shall be positive for today and tomorrow. It shall cross $51/bbl.

On Friday, some volatility may be observed.

INDIAN STOCK MARKET

Indian market shall have bearish opening. From 10.00 to 15.00 HRS IST, upward move is expected. In the last 30 minutes of trading session, profit booking may be observed.

For today and tomorrow, Indian market may be supportive. At higher level, positional traders are advised to short Nifty @ 8200-8250 for target 7800 & Bank Nifty @ 17800-18000.

Between Friday and next week, a big fall may be observed.

TRADING RANGE:

• NIFTY FUT: 8090-8150
• BANK NIFTY: 17450-17800

BUY:

• JET AIRWAYS
• JINDAL STEEL S/L 72.50 TGT 78.80
• APOLLO TYRES
• RELIANCE INDUSTRIES
• TATA STEEL

SELL:

• BANK OF BARODA

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