24thJune 2013 Daily Newsletter

Global Stock Indices:

Today, Asian market is expected to open bearish & shall be highly volatile. Recovery could be observed in second half (12.15 HRS IST).  UK market shall open positive and continue with volatile trend, it’s closing shall be flat to positive.

US market is expected to open positive. Volatile to positive trend shall be observed. However, profit booking is indicated in late US hours.

Tomorrow, Asian opening could be negative.

Please be cautious with overnight positions.

[PLEASE REFER TO PREVIOUS POST FOR WEEKLY PREDICTION]

VIEW ON PRECIOUS METALS

Highly volatile and bearish trend is expected in precious metals. Slight recovery is indicated before COMEX opening, which can continue for an hour or two (07.30 HRS IST).  Again a fall shall be observed then onwards.

Please note that tomorrow as well, precious metals are expected to trade negative.

 

View on Base Metals:

Strategy for Base Metals as mentioned in weekly newsletter should be to SELL ON RISE.

TRADING RANGE:
– COPPER: 365- 354

View On Energy Products:

Sell Crude Oil and NG on rise.

Currencies:

Sell EUR/USD on rise.

Buy USD/INR at lower level (around closing hour).

View on Indian Stock Market:

Indian stock market shall be volatile to bearish till 12.30 HRS (IST). Again, recovery shall be observed then onwards, which shall continue till 14.45 HRS (IST).

Profit booking shall be observed after 14.45 HRS (IST).

Tomorrow, opening in Indian stock market could be negative.

SELL:

–          RCOMM S/L 122 TGT 95

–          KTK BANK S/L 119 TGT 105

–          RELIANCE INDUSTRIES S/L 809 POSITIONAL TGT 720

–          JSPL S/L 207 TGT 195

–          ADANI PORT & SEZ S/L 155 TGT 145

–          YES BANK S/L 460 TGT 440

–          SYNTEX

BUY ON DIPS:

–          RAYMONDS

–          ZEE MEDIA

–          HAVELLS

–          UNITED SPIRITS

–           STATE BANK OF INDIA S/L 1960 TGT 1990-2020

 

–          MARUTI

–          TATA MOTOR

–          BATA S/L 820 TGT 850-860

(Updated at : 24/06/2013 7:33:11 AM (IST))

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