21st November 2014: A copy of today’s letter

Stock Markets Around the globe

Today, market shall again be volatile to uncertain. Market shall move down then up and then down.

PRECIOUS METALS

Bullion shall be positive today. Good positive trend to be seen after US opening. In next week as well, positive trend is expected.

Monday is slightly uncertain. Hence, it is advisable to book 50% position at late US hours.

If GOLD crosses 1,206 then it can move up to a greater extent.

TRADING RANGE:

–          GOLD : 1,186-1,205+

–          SILVER:15.95-16.50+

INDUSTRIAL METALS

Copper has bottomed out last day.  In December, it shall cross 4.00. Hold long position.

Trading Range:

–          COPPER:3.01-3.05+

ENERGY PRODUCTS

CRUDE OIL

Crude Oil has bottomed out by crossing 76.00. In coming days, it shall cross 85.00$/bbl.  Hold long position in oil for target 85.00+ next week.

NATURAL GAS

NG shall be volatile to positive for the BUday.

Short term view: NG shall go up to 5.50 in coming days. Hold long position in NG.

Trading Range:

–          CRUDE:75.00-77.50

–          NG: 4.35-4.55

CURRENCIES

EURO

Buy EUR/USD on dips.

INDIAN RUPEE (USD/INR)

Hold the long position in USD/INR.

DOLLAR INDEX

Dollar index shall be weak till 1 December 2014.

Sell dollar index on rise.

TRADING RANGE:

– EUR/USD: 1.2510-1.2590

-USD/INR(SPOT):61.70-62.10

-DOLLAR INDEX: 88.00-87.40

US 10 YR-TREASURY BOND

Buy bonds on dips.

TRADING RANGE:

-US 10 YR T BOND: 2.35-2.28

INDIAN STOCK MARKET

Indian market shall be highly volatile to uncertain.

TRADING RANGE:

# NIFTY FUT: 8,360-8,440

# BANK NIFTY: 17,450-17,750

BUY ON DIPS:

KOTAK BANK

YES BANK

RANBAXY

ING VYSYA BANK

HINDALCO

TATA MOTORS

BUY ON DIPS(SHORT TERM):

HDIL

DLF

UNITECH

 

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