Part of Daily Newsletter sent on 21 October 2020

Global Equity Indices

Moon entered Sagittarius from Scorpio. Market may trade mixed for the day. On Thursday, market is expected to behave positive. It is advised to buy indices at dips today. Cover short position in S&P500 and make 50% long position at CMP (3446). Rest long position is advised around 3420 with S/L 3400 for target 3500. Once 3500 is triggered, you can book profit in long position and make short position. On Friday, market is again bearish; sharp fall is possible. There onwards, this downtrend may …………………….

Stimulus is in the limelight but astrology indicates that Mercury is retrograde until US elections (3rd November 2020). Until then, no major relief is expected in form of stimulus.

Today, tech stocks (such as TSLA, NVDA, FB, ZM, CRM, NFLX and FSLY) may move higher and remain upward on Thursday. DOW has support at 28000 while NASDAQ has support at 11550. It is advised to long 50% DOW & NASDAQ at CMP. With S/L of 1600, you can long RUSSELL.

Just note that this long position is only from perspective of uptrend till Thursday.     

Precious Metals

The weekly tops of Gold and Silver are expected on Thursday. Gold may cross 1940 while Silver may cross 26. Gold has support at 1900 while Silver has support at 24.40. Remain long in bullion at lower levels. On Friday, market may behave range-bound. Weekly closing is expected to be positive.

Industrial Metals

Copper has been able to sustain above 3.10. In next week, it may move up to 3.30. Remain long in Copper with S/L 3.08.