In the previous session, S&P500 made a high of 4644 followed by a correction in which a low of 4565. At 4630, it was advised to book profit in the long position. At 4577, it has again been advised to long S&P500. At 16178, it has been advised to long NASDAQ. The stock market is expected to recover in today’s session. 4620-4650 could be achieved by S&P500. However, Thursday is again a downtrend day. Uncertainty may continue to dominate across global markets. The market will trade like a football. S&P500 (Spot) has support at 4550 and resistance at 4670. At the higher level, it is advised to take a short position.
It was advised to buy Nifty around 17000 – it made a high of 17349 in the previous session (followed by correction). We booked profit in Nifty at 17290. Next buying was advised at 17045 – booked profit at 17190. Again, a buy was
advised at the closing hour – 17018. Nifty Fut has resistance at 17300-17350 and support at 16800. Bank Nifty has support at 35700 and resistance at 37000. Today’s session will have big moves in both directions.
Yesterday, it was advised to short Gold at 1800- booked profit at 1781 and Silver at 23.30- booked 50% profit at 22.80. Now, it has been advised to buy Gold at 1777 with S/L 1771.
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