The trend ahead in USD/INR, bullion, oil and stocks

Global Equity Indices

In the previous session, US market went through a correction. We advised you to cover short position in DOW @ 24565, S&P500 @ 2685, NASDAQ @ 6765 and also signaled to enter into long position there itself.

Today, US market shall close positive. S&P500 can move up to 2715 on the higher side while DOW & NASDAQ can move up to 24800 & 6850 respectively.

In the next week, the trend is highly bearish for the market.

On Monday-Tuesday, market shall be trading upward. A considerable correction is possible after 25th of April 2018.

It is advised to book profit for once in long position. On Monday, it can open (around Asian hours) at lower levels but the overall trend for Monday-Tuesday is positive. For details, wait for next weekly letter.

It is advised to enter into long position for European  & Asian markets as well.

INDIAN STOCK MARKET 

Indian market shall open gap down. Nifty can drop to 10500 or lower while Bank Nifty can drop to 24900.

Market shall be volatile to downward until 14.00 HRS IST.  After 14.00 HRS IST, considerable recovery is possible. In next week, the trend can be positive but the market may start at lower levels.

It is advised to book profit in the long position for once.

The short position in Nifty has to be covered @ 10500 and Bank Nifty has to be covered @ 25000-24900. It is advised to buy indices at lower levels; closing can be positive.

CRUDE OIL

Crude shall be bullish in the medium term. It has potential to move up to 80.00. But by next week, it will first drop down to 65.00. It is advised to hold short position and book profit @ 66.00 or below.

If it moves up to 69.50 then you can add short position with S/L above 70.00.

PRECIOUS METALS

Venus has already changed its position. This is negative for gold. We asked you to short Gold June contract @ 1358 and then covered 50% profit @ 1344. Hold rest position for target 1330-1320. However, Silver shall be supportive and remain positive until 26th April 2018. Hold long position with S/L 17.00. In the previous session, Silver made a high of 17.35. Today, you can book 50% profit in Silver @ 17.35-17.45. Hold rest position for next week.

USD/INR

We have been long in USD/INR since it was trading @ 64.80. It is advised to book 50% profit @ 66.20-66.30. Hold rest position. By 9th May 2018, it can cross 66.50.