The market remained highly volatile in the previous session. DOW closed at 33294, S&P500 closed at 4306, NASDAQ closed at 14006 and RUSSELL closed at 1996. It is advised to make a 50% long position in indices (S&P500, DOW, NASDAQ, RUSSELL) at CMP. Wait for Thursday’s early Asian morning to accumulate the remaining position.
In the next 24 hours, Pluto and Mars conjunct; this shall be followed by a U-turn for the market. On Thursday-Friday, bullish closing is indicated.
It was advised to buy blue-chip stocks- 50% in the previous session. The remaining 50% can be accumulated today.
In European and Asian indices, make 50% long position today. The remaining long position is advised on Thursday.
In the weekly letter, it was mentioned that the Saturn-Mars-Pluto conjunction is followed by a sharp rally in the equity market. S&P500 will easily cross the 4500-mark.
INDIAN STOCK MARKET
Indian market may remain downward till 11.50 HRS. From there, U-turn is indicated. Uptrend is indicated on Thursday & Friday. Positional traders can long 50% Nifty and Bank Nifty in today’s session and rest on Thursday.
Nifty has support at 16300-16200 and resistance at 16900. Bank Nifty has support at 35400 and resistance at 36800.
One can buy 50% call options of Nifty (Strike 17000/ March end) and Bank Nifty (Strike 38000/ March end) at today’s lower levels.
Positional traders can also accumulate 50% ……………………..
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