GLOBAL STOCK INDICES
Markets traded as per our prediction. China has hiked the tariff on US products in response to the US action and hence, the trade war persists as mentioned in last week’s newsletter. For now, we have covered short position in DOW, NASDAQ, RUSSELL and S&P500. S&P500 made a low of 2800. In day or two, recovery is indicated. Around 2817, we asked you to long S&P500 – 50% today. Again around 2800, you can accumulate the remaining long position. We’ve also asked you to long DOW, NASDAQ, RUSSELL – 50% @ CMP. At a lower level, one can accumulate long. By tomorrow, S&P500 may cross 2840-2850. At today’s opening, you can buy the following stocks:
Hold this long position in stocks and indices till next session. In Asian and European market as well, cover short position and make 50% long position for tomorrow.
In the previous newsletter, it was mentioned that 1293 is a major resistance for Gold which has successfully been crossed. We asked you to long Gold @ 1284-1285 (June contract). It made a high of 1304. Today, mixed trend is indicated. It has next resistance at 1305 and support at 1293-1291. If the support level is not breached then it’ll move higher. Around 1292-1293, long Gold. Around 1300, we’ve asked you to book full profit in Gold. If it crosses 1305 then you can again buy back Gold.
In the previous session, Silver made a low of 14.60 followed by high of 14.85. We asked you to long Silver with S/L 14.50. Continue holding long in Silver.
In the next session, Sun is changing position; the uptrend in bullion may magnify. We are in a positional uptrend for bullion. We’ve been buying Gold since it was trading at 1267 for target 1350.
It was advised to short crude oil at 62.50 in the previous session and covered it around 60.80. We’ve shifted to long position at 61.00. If 60.00 is not breached, it will retest 62.50. We are positive for oil until next session.
Short NG @ 2.65.
Hold EUR/USD for target 1.1400. Around 1.1250, book 50% profit. Use S/L of 1.1170.
Long GBP/USD S/L 1.2900.
Around 109.00, we advised you to book 50% profit. Hold remaining position and again add short at 110.00.
INDIAN RUPEE (USD/INR)
USD/INR made a high of 70.98 in the international market. Around 70.90-71.00, book 50% profit in USD/INR. We are long in USD/INR since it was trading at 68.30 (Spot).
Hold short in dollar index for target 96. It made a low of 96.80 in the previous session.
We asked you to long BTC/USD at 5000. It has touched 7900. Continue holding long position.
INDIAN STOCK MARKET
In the previous session, Indian market witnessed sharp selling as per our prediction. For today as well, mixed trend is indicated. Market may have gap down opening today (as mentioned in previous daily newsletter).
Around 11100 (+/- 20 points), book full profit in short position of Nifty and make a small quantity of long position for tomorrow with S/L 11000 (FUT).
Next day, market may trade positive.
In the first half, downtrend is indicated. After 12.00 HRS, market may move up. Around 14.00 HRS (+/- 15 mins), it’ll again decline.
We are positive only for next session. On Thursday, market shall be back to negative track. Hence, don’t forget to square off long position on Wednesday.
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