GLOBAL STOCK INDICES
Global markets shall continue in uncertainty & high volatility. US market can get a bounce back forcing S&P500 to move up to 2070/2080. However, a fall shall be observed at higher levels.
From 15th July 2015, market shall be back to normal & positive trend.
HSI moved back from lower level last day but again it’ll experience drop at higher level very soon.
PRECIOUS METALS
It is a positive day for bullion.
Around 13.30 to 15.15 HRS IST, a correction may be experienced. After 15.1500 trend shall be positive.
Price of Gold and Silver shall trade in positive trend till 07.30 PM.
And then, range bound to volatile trend is expected.
On Friday, opening could be positive.
Around Friday’s evening session, bullion can trade in negative trend.
1172-1180 & 15.40+ can be achieved by Gold & Silver respectively in time frame of 2 days.
It is advised to book profit in Gold and Silver at higher levels before next day’s UK opening.
INDUSTRIAL METALS
Copper shall follow the trend in bullion.
It shall remain positive till next day’s opening and then correction may be observed.
ENERGY PRODUCTS
CRUDE OIL & NG
Major support of crude oil lies at 50.00. This level wasn’t breached last day. It can go up to 53.50. S/L shall be $50/bbl.
NG and Crude are in overall weak trend & shall enter positive run from 15th July 2015. NATURAL GAS NG shall be uncertain for the day. Recovery is indicated from lower levels.
INDIAN STOCK MARKET
Indian market shall be highly volatile, uncertain and bearish.
This trend shall continue till first half of next day.
From second half of next day, recovery is indicated.
TECHNICAL LEVELS
Nifty is weak below 8430 and if 8340 is breached, it can drop to 8250 or lower.
TRADING RANGE:
- NIFTY FUT: 8430-8280
- BANK NIFTY:18600-18200
BUY ON DIPS:
- YES BANK S/L 687
- ESSAR OIL S/L 186
SELL:
- TATA MOTORS
- BHARAT FORGE
- SBI S/L 273
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