Indian Stock Market
Indian market shall be uncertain to bearish until 12.15 HRS. From 12.15 HRS, it shall turn positive. Closing may be positive. At a lower level, long Nifty and Bank Nifty (around 12.15 HRS). Next week, the trend seems to be positive. Volatility will reduce. After 28th, the market is more bullish.
Nifty may cross 11100.
Buy at dips:
- DR REDDY
- DLF
- SUN PHARMA
- BANK OF INDIA
- HDFC
Sell at higher levels:
- KOTAK BANK
- TORRENT POWER
- TATA STEEL
Global Stock Indices
On 22nd, S&P500 made a high of 2797 after our buying recommendation while NASDAQ crossed 7100 and DOW crossed 26000. There onwards, profit booking was observed. Due to weak economic data, market closed bearish. Today, market shall again trade upward. At CMP, it is advised to long S&P500 (with S/L 2760), DOW, NASDAQ and RUSSELL. Today, S&P500 may bounce back to 2785-2790. Next Monday is again positive.
Closing in American market may be positive. Next week shall also be positive.
Precious Metals
In next week, a sharp correction is possible in bullion.
Crude Oil
Sharp correction is indicated in oil in next few days. It may correct down to 52 or below.