Dear Members,
Here is what we mentioned for Thursday.
Thursday’s trading range of all major markets Dear Members, This is what we mentioned yesterday: Volatility will continue on Wednesday as well, trade in and out. Thursday will be right day to take positioning trading for short period as mentioned in weekly newsletter. Down side in Indexes are very limited, grains looks toping here for the short period. Metals will trade in the range for few more weeks before they start one side directions. Oil moving higher so no short in oil, we may see $92.50 during this week. Currencies will trade mix, so only day trading recommended. Next week options contract will expires in gold, so trade may try to push prices on both sides. Indexes, oil and metals traded as predicted. In this week target we predicted S&P reaching 1373, and we this target got fulfilled, we highly recommend to stay long as our next medium term target is now 1397 once it start trading above 1373. Follow our weekly newsletter closely for positioning trade. METALS We clearly mentioned in this week newsletter that Monday to Wednesday metals would trade weaker, so trade in-out. Thursday we predicted rising trend, so today buy metals on weakness or lower side. Here is Thursday’s range: GOLD: $1586.70 to $1565.10 SILVER: $27.57 TO $26.91 COPPER: $353.30 TO $344.10 PALLADIUM: $583.00 TO $577.00 PLATINUM: $1424 TO $1403 SOFT COMMODITIES Stay long in cotton and coffee. Avoid sugar, cocoa and orange juice. Thursday’s trading range: COFFEE: $184.70 TO $178.90 COTTON: $72.15 TO $70.91 COCOA: $2239 TO $2178 SUGAR: $23.10 TO $22.55 ORNAGE JUICE: $117.9 TO $112.80 INDEXES Keep adding stocks and indexes, as markets to trade positive. Thursday’s trading range (September 2012 contract): AUSTRALIAN (Cash) – 4205 to 4168 NIKKEI – 8890 TO 8787 NIFTY S&P (Spot) – 5268 TO 5229 (buy nifty) SINGAP0RE (cash) – 3045.7 TO 3019.00 Keep moving toward new high HONG KONG (cash) – 19451 to 19355 (will trade mix) CAC – 3251 TO 3223 (will move up sharply) DAX – 6729 TO 6646 FTSE – 5680 TO 5621 S&P – 1375.75 TO 1362.75 (Keep adding on lower side) NASDAQ – 2636.5 TO 2601 RUSSELL – 809.50 TO 794.25 DOW – 12900 TO 12790 GRAINS No shorts in grains, but same time stay away from any buying. One can trade in out. Thursday’s trading range (September contracts): CORN: $804.75 TO $775.00 WHEAT: $921.25 TO $880.5 RICE: $15.65 TO $15.38 SOY: $1665.25 TO $1630.75 SOY MEAL: $507.25 TO $491.80 SOY OIL: 54.79 TO $54.00 ENERGY Last one year oil daily and weekly strategy is working with accuracy of over 95%. This week target is $92.50 so hold your trade in oil. Avoid natural gas and treasury bond, so trade in-out in both of these financial instruments. Thursday’s trading range: OIL: $91.02 to 89.23 September contract NATURAL GAS: $3.09 to $2.80 August contract TREASURY BOND – 151-17 TO 150-10 (Sep contracts) CURRENCIES All major currencies will trade mixed, so trade in and out on a daily basis. Thursday’s trading range (September contract). DOLLAR INDEX – 83.45 to 82.90 AUSTRALIAN DOLLAR – 1.0338 to 1.0261 CANADIAN DOLLAR – 0.9918 to 0.9850 BRITISH POUND – 1.5719 to 1.5600 EURO – 1.2345 to 1.2245 JAPANESE YEN – 1.2737 to 1.2663 SWISS FRANC – 1.0275 to 1.0182 RUPPEE – 55.48 TO 54.90 RAND – 8.17 to 8.08 Note: I am traveling in north India (Delhi and Rishikesh), so please bear with me on timing of sending flashnews and weekly newsletter. Thanks & God Bless, Mahendra Sharma Thursday 10.30 AM, Delhi, India