US Stock Market
The Ukraine-Russia conflict led to a severe selloff in the stock market. Russia has recognized two independent regions in Eastern Ukraine. The stock market went through a sharp drop. S&P500 made a low of 4255 while DOW made a low of 33482 and NASDAQ made a low of 13591. RUSSELL made a low of 1962. It was mentioned in the weekly newsletter that a drop is possible on Tuesday. After the US opening, the market may recover. With volatility, this recovery may try to stabilize the market till Friday. Again, a drop is indicated next Monday.
Important Technical Levels
S&P500 has support at 4200 and resistance at 4400. DOW has support at 33000 and resistance at 34500. NASDAQ has support at 13200 and resistance at 14500. RUSSELL has support at 1940 and resistance at 2055.
BUY S&P500 (SPOT) -50% @ 4283 & 50% @ 4230 with S/L 4200 for target 4450.
BUY NASDAQ – 50% @ 13700 & 50% @ 13400 with S/L 13200 for target 14200-14500.
BUY DOW – 50% @ 33600 & 50% @ 33300 with S/L 33000 for target 34400-34800.
BUY RUSSELL – 50% @ 1970 with S/L 1940 for target 2050.
Precious Metals
Bullion may remain positive for the day. On the higher side, Gold may move up to 1920. Resistance for Gold (Spot) lies at 1922 while support lies at 1878. It is advised to book profit in the long positions of Gold and Silver today. One can again buy back bullion on Friday. Silver has resistance at 24.50 and support at 23.50. A drop is possible in precious metals between Wednesday and Friday.
Energy/Crude Oil
Book profit in the long position of crude oil at 93. And take short position in 2 instalments – 50% @ CMP-93.00 & 50% @ 94.50 with S/L 96 for target 88. Book profit in short position by Friday. Next week is again favorable for crude.
Energy/Natural Gas
Hold long position in NG with S/L 4.50 for target 5.00-5.30 in the next week. It was advised to book 50% profit in NG at 4.71 in live signals.
Crypto-Currencies
Buy 50% ETH/USD @ 2576, CARDANO/USD @ 0.84 and SOLANA/USD @ 83.00.
Treasury Bonds
Book profit in US 30 Y T-bond at 154.07.
Indian Stock Market
Cover short position in Nifty @ 16950-17000 and buy with S/L 16800 for target 17300-17400. Also, Â Bank Nifty has support at 36500. Long Bank Nifty around 36800-37000 for target 38000-38500. Bank Nifty may be more supportive. Â In the previous session, it was advised to take short position in Nifty @ 17300-17400.
Today’s closing may be lower. From Wednesday to Friday, an uptrend is indicated. Again, a downtrend is indicated on Monday. Book profit in long position by Friday.