5 May 2020: Predictions on Crude Oil, Indian and American Stocks

Indian Market

Yesterday, Indian market closed with Nifty at 9295 and Bank Nifty at 19678. Today, gap up opening shall happen as per our prediction in Indian markets.

Bank Nifty may move up to 20500 while Nifty may move up to 9450 in today’s session. In the week ahead, Nifty may cross 9550 while Bank Nifty may cross 21000. It is advised to avoid short position at lower levels. One may rather make long position at lower levels.

On Wednesday as well, gap up opening is possible.

Intraday perspective:

Gap up opening is indicated followed by some profit booking. 9550 is a major resistance for Nifty; if Nifty crosses this resistance then sharp short-covering will be visible. From 11.20 to 12.45 HRS, the market will again move up. From 12.45 HRS to closing, the volatile trend is indicated; no clear view is available.


US Stock Market

The market traded as per our prediction. Today’s closing shall be positive. S&P500 made a high of 2847 and is trading at the same level while this newsletter is being written. DOW and RUSSELL currently trading at 23777 and 1274; NASDAQ is currently trading at 8865. We asked you to book partial profit in long position of S&P500 (long position was made at 2793; booked partial profit at 2845) and NASDAQ (long was made at 8600 and partial profit booked at 8865). S&P500 can move up to 2900.

Wednesday’s Asian opening is also expected to be positive. We asked you to long ROKU in the previous session. In live signals, we advised buying ROKU @ 114. It was then advised to book 50% profit at 123. It closed at 124. In short term, it can move up to 140-145. We also asked you to buy TESLA @ 705. It may move up to 800 today. Book 50% profit in TESLA around 780-800.

It was also recommended to long AMAZON at lower levels. You may book 50% profit at 2400-2450.

Crude Oil

Crude witnessed a breakout. Hold long position with S/L 20.00. It may move up to 24 or higher.

MCX: Hold long position in MCX Crude Oil with S/L 1500 for target 1650-1750.