Finally working from home stocks and high-flying tech stock came down sharply, now Vaccine will pay bigger role with different sectors…our offer is ending soon
Dear Members,
Today I completed 53, and it is an interesting day to write daily Flashnews because the market traded too volatile and negative yesterday. Many also ask what is next mahendra, whether this bull market will continue, or it is end of the bull era?
I was up 3.15 and enjoyed my meditations, I watched 1987, 2000 and 2008 crash closely. Let me tell you that I am in most difficult business because advising is toughest job.
Now let's come back to the market because many are asking what is next for the market from here as they are saying I predicted a volatile trend in Book.
We expected a rally which started from 2200 to move toward 3388, once it achieved this level then we raised the target for 3457 and 3597, both these got achieved. Now yesterday fall surely indicates that 3597 will be key astro resistance from here onward and the market may struggle to breach this level in the coming time but we need also remember that S&P will have very important astro support at 3388 level so keep this in mind. Tech stocks or working from home stocks collapsed big but remember that other sectors are ready to take lead from here. In the last few days, we have been recommending that working from home stocks will fall sharply on Vaccine news and money will move in other sectors or stocks which suffered badly as they were in Corona epic center. Current trend in home working stocks indicates that Vaccine is on the way as predicted in the end of September of first week of September.
We are not calling the bear market yet so keep this in mind. Vaccine news may push market around 7 to 10% higher in the few days after announcement.
Metals acted mix but recommended buying on Thursday lower sides, Friday we are expecting mix to positive trend. Vaccine news may put big pressure for the few days on precious metals but then they will come back on positive trend. Gold is still holding $1921 and silver $26.11 level which is good news, on higher side as predicted crucial level will on higher side $1988 and silver $28.20.
Oil traded mix, it has been trading in the ranges of $43.88 to $40.11 level as predicted, breaking either side will bring move in that directions.
Currencies acted mix but surely they are very close to our selling levels. Emerging market currencies will act positive.
Buy ZS, next week earning announcement may push ZS sharply higher up to 10 to 15%.
Vaccine is coming early so get ready, stay long in JNJ, AZN, MRNA and BNTX.
On Monday USA market will remain close due to holiday, we will be back on Tuesday with small update.
Thanks & God Bless
Mahendra Sharma