Wishing you a Very Happy Diwali.
Today Muhurat trading timing from 6:30pm to 7:30pm.
Today we will expect low volume trades in future segment. Most of the traders are willing to go for Investment call.
KEC International, Reliance Industries, Tata sponge are three stock looks good for Investment purpose.
Keep investing... It is good for future.
About Nifty... Small up and down remain continue in Nifty this year but overall trend looks positive. Don't get panic in equity markets at lower levels.
We are into best time for Systematic investment plan (SIP). This year we have macro economic picture like US Presidential Election, FED rate policy, UP elections will be key point for driven market. This year currency segment will play key role in the entire system. We will expect huge volatility till Sep 2017.
8450---8100 act as major support while 9100 act as major hurdle. We will expect bearish phase only and only monthly close below 8100 mark else positive momentum continues. We will expect Banking and IT sector will perform this year on seeing positive growth or you can say that these two sector will be bottom out.
Keep watching Reliance Industries this year Target looks 1400+++
On Commodity side
Gold bounced back sharply on late Friday. 30300---30500 act as major hurdle. Above 29880... Our target intact 30300---30500. Traders remain cautious at upper levels in Gold and Silver as we are expecting down trend in coming weeks.
We will not expect Bullion to perform this year until and unless any major changes comes from developed economics. We are trying to find out selling opportunity in Gold. Wait for confirmation.
Base metals are turning higher and will trade accordingly. Aluminum will perform this year. So have a close eye on Aluminum.
Energy sector... Crude oil gets positive in 2nd phase of 2016. Soon we will see a long consolidation phase in Crude oil. This consolidated phase could be for several months between price range of $35---$65.
Chances are unlikely to breach $65 and below $35. If it breaks $35 then case will be worst for Crude oil for years which is unlikely to happen as it remain supportive around $35.
Natural gas trend remain positive. Crucial support at 170 and resistance at 220.
Agri Commodity
Soyabean... We will expect positive trend after Diwali and could test 3400---3500 mark. 2900 act as major support and unlikely to breach in near terms.
This year we are positive in Cardamom and Wheat too. We are already holding long and bias remain positive. Our initial target for Cardamon is 1600 while wheat target looks 2200---2350+++ mark. Support at 1080 and 1700 respectively.
On Currency Side, USDINR has support at 65.80 and resistance at 68.00. Positional weak only below 65.80 for the downside target of 63---62 mark else range bound trading remain continue.
Enjoy Muhurat Trading and once again Happy Diwali.
