US Stock Market
It was advised to short S&P500 at 4193 (today in Asian hours) with S/L 4211. In the current week, Monday may be negative; closing maybe bearish. The market is expected to start recovering from Tuesday. The trend will remain mixed to positive until Thursday. The market may again turn downward on Friday; closing may be negative. Overall, the current week may be slightly bearish. Next Monday, a lower opening is possible.
Trading strategy: Short position can be covered in indices at today’s US closing or tomorrow’s Asian opening. Long position is then advised at lower levels until Thursday. At Thursday’s closing, one may again make short position for the subsequent week.
S&P500 has support at 4165 & resistance at 4200-4210.
You can accumulate AMZN, GOOGL, TSLA, AAPL, NVDA, NFLX, PYPL, BRK/B and SHOP at lower levels today and book profit by Thursday.
We asked you to make short position in indices and stocks at Friday’s closing. Today, lower opening is indicated due to election results. Nifty has support at 14200 and resistance at 14600-14700.
Today, market may trade lower; It may again have a gap down opening on Tuesday (and remain downward till 11.00 HRS). A recovery may be observed in the second half of Tuesday. Overall positive trend may be observed until Thursday. The market may again turn negative on Friday; this downtrend may continue for next week.
Trading strategy: cover the short position within 1-2 hours of today’s opening and wait for higher level today to make short position. Again, cover this short position at Tuesday’s opening and make long position at lower levels. Hold this long position till Thursday. On Thursday, book profit in long position and make short position at higher level for the next week.
Banking and finance stocks may witness weakness by Tuesday.