Dear Members,
Globally markets acted mix, Asian market including Indian market outperformed global market and Indian market tested all time high. The USA market acted on both sides but closed lower as many concern issues are there and important rising inflations from all angles.
Lithium and graphite stocks are performing well, they are in our top buying list and they can keep performing well for the next five years as many countries will start shopping in the lithium area, India is far behind in this race as they don’t have any clue where to start from. We are starting small updates on a regular basis in the lithium sector from today as we are very excited about. Yesterday Zijin Mining group acquired Neo lithium for $770 million. Fast month there was bidding war for “Milllennial Lithium” among two chinese giants “Amperex Tech and Ganfeng Lithium”. Bacanora lithium was acquire by Ganfeng.
Wednesday financial will start announcing earnings and they are on our buying list. Buy BAC and JPM.
Now 11th October has ended which means that the negative cycle is ended but in our book we mentioned that until the 21st of October some volatility will continue, so keep this in mind but surely, I will recommend taking some long positions between the 12th to 20th of October on any sharp weakness.
Metals are performing but get ready to add more Gold and silver around the lower side level on Tuesday. Our astro support level is $1740 and $22.28 level. Base metals will mix to the positive.
Oil is a great sell at $82.88 level so get ready to sell positions, oil and energy market will top out around these levels.
Dollar will be a great sell on Thursday, buy Euro, Pound, Australian dollar, Canadian dollar but avoid Japanese Yen and emerging market currencies.
Thirty Year Bond have been trading negative as predicted, we recommended selling at 164-00 with a target of 156-00.
Coffee, cotton, and lumber will move further higher, hold long as per our prediction.
One must read the weekly newsletter carefully because inflation will be a key issue.
Bitcoin tested $56788 but it needs to close above this level for three days to confirms $75000 level which looks difficult but demand has been rising as every single day young and new investors are rallying behind Crypto.
S&P and NASDAQ will great buy but higher side profit booking is recommended on daily basis until we don’t recommend adding aggressive long in futures along with Call options in Indexes.
Tuesday: Overall positive for markets and commodities so buying will come.
Thanks & God Bless
Mahendra Sharma