Global Stock Indices
American markets closed negative in the previous session. S&P500, DOW, and NASDAQ made lows of 2917, 26361 and 7778 respectively. Today as well, weakness is possible. Japan will remain closed from 27th April to 3rd May 2019. Chinese markets will remain closed from 1st May to 3rd May 2019.
On 30th April, there is a meeting between USA and China in context with trade-war; the outcome will be available by 30th April or 1st May 2019. As per astrology, this outcome may extend the tenure of the trade war. In the next week, the market may witness a considerable decline. S&P500 may drop down to 2780 or below. Positional traders can buy S&P500 VIX for a considerable profit. It is advised to book partial profit in HANG SENG @ 29600 and again short at a higher level.
Precious Metals
Today, a big move is possible in bullion. On 29th, trend may remain positive for precious metals. If the big move is observed then Gold may cross 1288 while Silver may cross 15; book 50% profit at higher levels.
Crude Oil
The top for crude oil has been made. The entire month of May is negative for crude oil. In the next few weeks, it may drop down to 50. Around 64.80, we asked you to book partial profit in short position.
Indian Stock Market
Indian market traded as per our prediction in the previous session. It went through decline as expected from 13.30 HRS. Nifty dropped by 85 points while Bank Nifty also witnessed a sharp decline.
Today as well, the market shall be uncertain. Anytime soon, a sharp decline is expected. The market may close negative. In next week, the downtrend will intensify with Nifty dropping down to 11400 or below.
Next Monday, Indian stocks and commodities market shall remain closed on account of elections in the state of Maharashtra. Hence, avoid carrying forward long position for next week.
Remain with “sell at a higher level” strategy.
One can buy oil-related PSUs.
USD/INR
USD/INR made a high of 70.60 yesterday. Around 69.80-70.00, positional traders can long USD/INR. In coming days, it will again cross 70.50.
Originally, we asked you to long USD/INR (Spot) @ 68.30 and booked profit at 70.50 in the previous session.