Global Equity Indices

Scorpio Moon shall continue for the day. Market shall be uncertain. Tomorrow, recovery is expected. S&P500 FUT made a low of 1964. It shall take 1964 as a support and if breached, it could drop to 1950 at the most. We don’t expect it to decline below 1950.

Next day, recovery is expected and next week, positive trend is indicated.

You can add long position in S&P 500 with stop loss of 1960.

Note: There are chances of the market to recover suddenly today.

Global equity indices are positive for next week – you can long S&P500 call option for target 2000 (it may hit 2040).

TODAY’S TRADING RANGE: *March Contract for FUT

• DOW (FUT):16650-16750
• S&P 500 (FUT): 1964-1995
• NASDAQ (FUT): 4380-4430
• FTSE (FUT):5920-6000
• CAC(JAN FUT): 4390-4460
• DAX(FUT):10000-10200
• AEX(JAN FUT):424-432
• HS(FUT):20100-20500

PRECIOUS METALS

Bullion shall continue to be positive for today and tomorrow. If Gold crosses 1101, it can move up to 1120. We are long in GOLD @1063. The first target 1101 has been succesfully achieved.

INDUSTRIAL METALS

Copper may not breach 2.05 – a major support. Trend may be uncertain. You can long Copper around 2.05 with stop loss 2.01.

TRADING RANGE:

• COPPER: 2.05-2.10

ENERGY PRODUCTS

CRUDE OIL

Crude Oil breached $34/bbl in the previous trading session. $33 is not expected to be breached. If it is breached, it may drop to $32 – the chances for this to occur are really less.

NG

Hold long position in NG with stop loss 2.20.

TRADING RANGE:

• CRUDE: 33.00-35.00
• NG : 2.26-2.35

CURRENCY PAIRS

EURO

EUR/USD shall move up for the day.

USD/INR

USD/INR can touch 67 today. Around 67-67.20, you can short USD/INR with stop loss 67.40.

DOLLAR INDEX

Dollar index shall continue to decline for the day and next week.

TRADING RANGE:

• EUR/USD: 1.0770-1.0870
• USD/INR: 67.00-66.70
• DOLLAR INDEX: 99.20-98.80

US TREASURY BONDS

Hold 50% long position in US 30 YR Treasury bonds and 50% short position in US 10YR Treasury bonds.

Around 2.15, you can add short position in US 10 YR Treasury.

TRADING RANGE:

US 10 YR TREASURY: 2.14-2.20

US 30 YR TREASURY: 2.85-2.95

INDIAN STOCK MARKET

Indian market shall be uncertain for the day. In the last 1 hour of trading, a recovery is expected. On the lower side, Nifty Fut may drop to 7650 while Bank Nifty may drop to 16200.

Next week, the market seems to be positive.

TODAY’S TRADING RANGE:

• NIFTY FUT : 7650-7750
• BANK NIFTY: 16200-16600

BUY ON DIPS:

• JET AIRWAYS
• SPICEJET
• IOC
• BPCL
• SYNTEX