Special Request and Prediction for trend ahead

Special Request:

Team AstroDunia requests your co-operation amidst the coronavirus crisis. We will be grateful if you follow the government directives and stay at home as much as possible. Please try and understand the severity of the situation. The entire world is going through this hideous test and shall emerge victorious with your action. You have this wonderful time that can be spent with your family.

Planetary conditions this week:

Jupiter changed its position early morning. It moved to Capricorn. Venus moved to Taurus on 28^th March. On 31^st April, Sun will enter Revati nakashtra. It is Jupiter-Pluto conjunction today. On Wednesday, it is Saturn-Mars conjunction. On Friday, it is Mars-Ketu square.

COVID-19: The transition of Jupiter will give some relief. By 4^th or 5^th April, a good news relevant to COVID-19 should be in the limelight. On 14^th April, when Sun changes position; there onwards, problem will be in control. Some major relief is likely. After first week of May 2020, situation will be 80% in control.

GLOBAL STOCK INDICES

Owing to Jupiter-Pluto conjunction today, market shall be supportive. S&P500 made a low of 2454. We covered short there and made long position with S/L 2440. On the higher side, it can move up to 2550 or above by today or tomorrow’s Asian hours.

It is advised to cover long position tomorrow at higher level and make short position. Between Tuesday and Wednesday, a sharp decline is likely to happen. From Thursday, market will observe a U turn. On Thursday, closing will be positive. On Friday, it is the non-farm payroll announcement. Market may close slightly bearish. On Wednesday, S&P500 can drop down to 2350 or below. Cover short position on Wednesday at lower levels and make long position at closing. (We will issue live signals in this context).

At Wednesday’s closing, you can buy 50% large cap stocks in US market.

PRECIOUS METALS

Gold made a high of 1673. It is currently trading around 1650. By tomorrow, it can drop down to 1600-1580. Silver made a high of 14.71. It is currently trading around 14.13. By Wednesday, it can drop down to 13.00. From Wednesday, bullion will witness a bounce back. Around 1580-1600, it is advised to buy Gold. Wait for 1^st April 2020 to make long position in Silver.

ENERGY PRODUCTS

CRUDE OIL

The bottom will be made around 1^st April 2020. Avoid crude oil till then. Make long position on 1^stApril 2020. From 7^th April, crude will enter a bullish cycle which would continue till 25^th.

NATURAL GAS

The low of NG will be made on 1^st April 2020. It can drop down to 1.50-1.45. You can long NG around closing of Wednesday after covering short position.

CURRENCIES

EURO (EUR/USD)

EUR/USD shall drop till Wednesday.

POUND (GBP/USD)

GBP/USD shall drop till Wednesday.

YEN (USD/JPY)

USD/JPY will drop till Wednesday. It is advised to cover short position here at 107.35 and wait for Wednesday to accumulate long position.

INDIAN RUPEE (USD/INR)

Make 50% short in USD/INR April contract at 75.50 and rest short position has to be built around 76.50 for target 74.

DOLLAR INDEX

Dollar index shall move up till Wednesday. It can move up to 101.00.

US TREASURY BONDS

US 30 Year T-Bond
US 30 Y T-Bond shall move up till Wednesday. It is advised to book profit at CMP-181.34 (in long position made at 178).

Yield
Yield shall decline till Wednesday. On Wednesday, you can long yield around closing.

INDIAN STOCK MARKET

Indian market may close flat to positive for the day. On Tuesday, the first half is supportive. Overall till 1^st April 2020, uncertain to bearish trend is indicated. At 1^st April 2020’s closing hour, positional traders can buy Nifty (50%) and Bank Nifty (50%) along with blue-chip/large-cap stocks.

Nifty has support at 8300 and resistance at 8600 while Bank Nifty has support at 18000 and resistance at 20500.

Intraday perspective: the market will open gap down. From 10.15 HRS to 13.15 HRS, highly volatile trend is indicated with some possibility of recovery. From 13.15 HRS to closing, positive trend is predicted.

TRADING RANGE:

• NIFTY FUT: 8350-8600
• BANK NIFTY FUT: 18800-20800

Avoid any substantial position size in the stock market at this point of time. On 2^nd April, Indian stocks and commodities market shall remain closed.  On 3^rd, market will resume trading. On Monday (6^th April 2020), stock and commodities market shall again remain closed.

IMPORTANT NOTE:

MCX has revised its trading hours for the next 15 days. It’ll remain active from 09.00 HRS to 17.00 HRS (Monday-Friday).

The above research is for educational purposes.