Booked profit in positional Gold
We had a positional buy in Gold @ 1816 – booked profit at 1965 (MCX: 59100). The recent buying was at 1900.
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Covered positional short in Indian Market
We had a positional short in Nifty @ 18000 & Bank Nifty @ 42000. Covered positional short in Nifty @ 16925 and Bank Nifty @ 38850 yesterday. We were also carrying a positional short across stocks such as BANKBARODA, SBIN, CANBANK, AXISBANK, ICICI BANK, INDUSIND BANK from higher levels that were covered yesterday. Advised a
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Next Bottom Date: 23 March 2023
US Indices It was advised to short S&P500 at 3928 on Wednesday, NASDAQ at 12180, and DOW at 32140 & RUSSELL at 1800. Covered 50% position in S&P500 at 3849, NASDAQ at 11970, and DOW at 31616. Booked 50% profit in RUSSELL at 1761. Yesterday, DOW made a low of 31429 and closed at 31874;
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2nd and 3rd largest bank failures since 2008
On March 23rd, 2023, the stock market is expected to experience a reversal, as predicted by our market timing firm. Recent events have resulted in the US regulators taking control of Silicon Valley Bank and Signature Bank, which were the 2nd and 3rd largest bank failures since the 2008 recession, respectively. In our Annual Letter
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SVB Financial Group’s shares plunge 60% amid global turmoil, validating AL-2023 predictions
Shares of SVB Financial Group (SIVB.O) plummeted by 60% on Thursday, following the launch of a $1.75 billion share sale aimed at strengthening its balance sheet and navigating the challenges posed by declining deposits from startups struggling to secure funds amidst rising expenses. The bank’s CEO, Greg Becker, revealed that clients’ cash burn had increased