Global Equity Indices & US Stocks
In the previous session, market went higher. S&P500 made a high of 3381 and closed at 3352. We were long in S&P500 and other indices from lower levels and then booked profit at higher levels yesterday.
At 3362, it was advised to make short position (in live signals) – our first target was achieved at 3340. It made a low of 3338 in today’s Asian hours. DOW made a high of 27850 and closed at 27664 while NASDAQ made a high of 11500 and closed at 11407.
Our stock picks such as AMZN, NVDA, NFLX, AAPL continued to move higher and we booked profit in some of these stocks. We went long in BYND @ 155 & booked profit at 170. It is advised to make 50% short position in indices -S&P500 @ 3370-3372 with S/L 3383 for target 3340-3320, NASDAQ @ 11465-11475 with S/L 11560 for target 11360-11300, DOW @ 27850 with S/L 28021 for target 27600-27550.
At lower levels, it is advised to cover short position in indices and make long position for Friday.
Today, it is the Full Moon wherein market may witness weakness or profit booking. On Friday, it is the Sun-Uranus alliance which would make the market positive. In the next ———, markets will continue to trade in upward direction.
At today’s closing hour or lower levels, you can accumulate stocks such as AMZN, MSFT, BA, NVDA, AAPL and TSLA. HK market will remain closed on Thursday & Friday. The Chinese market will remain closed from 1st to 7th October 2020.
In the previous session, Gold made a high of 1906 while Silver made a high of 24.94. From there, profit booking has been observed. Gold has support at 1880 and resistance at 1920. Silver has support at 23.20 and resistance at 24.50. Owing to Full Moon, precious metals may witness some pressure. At today’s lower level, it is advised to long bullion. It may trade bullish for the next session. From 5th or 6th October 2020, a sizable uptrend is indicated in Gold & Silver that may continue till the ———- 2020———————.
MCX: Positional traders are advised to accumulate some long position in Gold & Silver at today’s closing. On Friday, MCX will remain closed for the entire session. It’ll resume trading from Monday.
In the last public update, it was written that if Gold does not breach 49200 (MCX) / 1845 (COMEX) and Silver does not breach 56000(MCX)/21.40 (COMEX) then upside was possible.
Book profit in short position of US 30 Y T-Bond at 175.30 (CMP) and make long position with S/L 174.90 for target 177.
Indian Stock Market
Market traded as per our prediction in the previous session. Today, it is Full Moon and also the RBI policy which may turn market highly volatile.
Gap up opening is indicated. It is advised to book profit in indices and stocks at higher levels there. Around 11.30 HRS, market may drop wherein you can accumulate long position. With ups and downs, market is expected to close positive.
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