Global Stock Indices
Markets clearly traded as per our prediction in the previous session. Around 3008, we booked 50% profit in long position of S&P500 that we were holding from last week (in live signals). Again, we went long in S&P500 around 2928. Around 3090, we advised booking profit and making short position. Around 3100 & 3131 lies key resistance levels. It may decline slightly before crossing these resistances. Yesterday, we asked you to buy blue chip stocks. Stocks such as APPLE, AMAZON went up significantly. DOW went up by 5%. S&P500 went up by 4%. DOW made a high of 26745 while S&P500 made a high of 3095. NASDAQ made a high of 8891. RUSSELL made a high of 1518. We made parts of our newsletter open in public. Our higher targets have been achieved by equity indices.
Today, trend is mixed. By Wednesday, a drop is possible in which S&P500 might go down to 3000 or below. It is advised to long S&P500 below 3000. On Thursday, trend is favorable.
On 10th March, Mercury will turn direct. Hence, volatility may remain in place till then.
Today, TGT and KSS may trade positive. You can buy these stocks. For TGT, Use S/L of 106 for target 114-120. Use S/L of 36 for KSS (target will be 40-45).
Indian Stock Market
In the previous session, Nifty made a high of 11410 while Bank Nifty made a high of 29975. As clearly mentioned after 14.15 HRS, market witnessed considerable selloff. Around 11400, we booked 50% profit in long position of Nifty from Friday. Around 29650, we booked 50% profit in Bank Nifty.
We went long again in Nifty at 11030 and Bank Nifty at 28700.
Today, gap up opening is indicated. Till 10.15 HRS, uptrend is indicated. From 10.15 to 10.45 HRS, downtrend is possible. From 10.45 HRS to closing, volatile to positive trend is indicated.
On Wednesday, a dip is possible. But on Thursday, trend is again positive.
If Nifty doesn’t close below 11020 (closing basis), then it may move up to 11500-11700.
Crude Oil
Crude made a high of 48.55 in today’s session. It is advised to book 50% profit here. Our target of 49.00 has almost been achieved. You will be able to add crude at lower level on Wednesday. The yearly bottom has been made or will be made on Wednesday. By the end of March, crude can move up to 58 or higher.
Natural Gas
It is advised to book partial profit in NG @ 1.78. A dip is possible on Wednesday. The low may not be retested in 2020. It is advised to buy NG at the dip tomorrow. If it crosses 1.90 then breakout is possible.
Bullion
In the previous session, Gold made a high of 1617 and witnessed profit booking. It made a low of 1585 later. With S/L of 1578, long Gold for target 1610-1618. If it crosses 1620 then it can move up to 1638-1650. By the end of March 2020, Gold may cross 1700. Silver made a high of 17.05 and low of 16.65 in the previous session. With S/L of 16.30, long Silver. By the end of March 2020, Silver may cross 18.50 or higher.