The trend ahead – 28 April 2020

Till the FOMC, there can be some volatility in the equity market. Post FOMC, the market will behave bullishly on Thursday and Friday. Crude Oil June contract made a low of 10.20. We advised going long in Crude at 10.50 with S/L 9.80. We just booked profit at 12.5-13.00. After Wednesday’s US opening or FOMC, oil is expected to move up and remain positive till Friday. Traders should keep the key support of 10.00 in mind. Gold made a low of 1704. We went short in Gold at 1780 and covered at 1708 and there itself, long position was advised. If it falls further to 1680, one may add long position. After FOMC, Gold will shoot up. Indian stock market will trade volatile to bullish. We have been mentioning uptrend in the Indian market since 24th March 2020. Last week also, our prediction of gap up opening on 27th April was made public and turned out to be highly accurate.