Global Equity Indices

As predicted already, the market took some recovery on Wednesday and declined. We had advised you to build positional short in DOW March contract @ 25500. It has dropped around 1,000 points. 24,600 was the low made. Also a short was advised in S&P500 March contract @ 2730. A low of 2683 has been made by S&P500. NASDAQ March contract was made around 6825; it is currently trading at 6698.

EUR/USD

It is advised to buy EUR/USD @ lower level.

USD/INR

It is advised for positional traders to buy 50% USD/INR with S/L 64.60 for target 65.50-66.00. Earlier, we were long in USD/INR @ 63.80.

DOLLAR INDEX

Dollar index made a high of 90.20 in the previous session. Our target has been hit. It is advised to cover long position and enter into short position (50% @ CMP and rest @ 91.00).

GBP/USD

It was advised to short USD/GBP @ 1.4000. We have booked 50% profit in USD/GBP @ 1.3900. It can drop to 1.3800 or lower. Hold rest position for target 1.3800 or lower.

USD/JPY

We advised you to short USD/JPY @ 107.50. Above 108.00, you can add a short position for target 106.

INDIAN STOCK MARKET

We are short on Nifty @ 10400 and Bank Nifty @ 24960-25000. We also have STBT in the following stocks:

• PNB
• FORTIS @ 157
• DLF @ 225
• SBI

Market shall open gap down & remain weak.