Global Equity Indices
The fall that started last day shall continue for today as well. After mid-session of US, a considerable bearish trend may be observed. This trend may continue with volatility for next week as well. The bottom is anticipated to be made around 17th June 2016.
In this time frame, S&P500 FUT may drop to 2000-1980.
PRECIOUS METALS
Gold and silver made a high of 1275 and 17.35 in the previous trading session. In medium to long term, bullion is highly bullish. By mid-August 2016, we expect GOLD to cross 1400 while SILVER may cross 21.00.
However, some correction may be observed by next Wednesday – you can hold short position for target 1255-1240 in GOLD and 16.90-16.60 in SILVER.
We asked you to long GOLD when it was trading at 1205 – yesterday, we asked you to book profit at 1270. Similarly, long position in Silver from 15.92 happened to be a huge profit last day. Hopefully, you must have enjoyed the call!
CRUDE OIL
Crude oil has entered bearish mode.
In next week, a fall of 4 to 5 percent is indicated in the price of crude oil – hence, you are advised to hold short position.
NG
Hold short position in NG with stop loss 2.62 for target 2.45.
EURO
EUR/USD may experience correction until next week.
USD/INR
Buy USD/INR at lower level. By 20th June, it will touch 68.
DOLLAR INDEX
Dollar index shall move in a positive trend.
US Treasury Bonds
Buy treasury bonds on dips as the trend is positive for next week as well.
INDIAN STOCK MARKET
Indian market shall be volatile for the first half. In second half, correction may be observed.
By next week, Nifty may breach 8000 while Bank Nifty may breach 17000.
Positional traders are advised to hold short position in Indian indexes.
TRADING RANGE:
- NIFTY JUN FUT: 8250-8150
- BANK NIFTY FUT: 17900-17500
SELL ON RISE:
- SBI
- YES BANK
- HINDALCO
- TATA STEEL
- VOLTAS
- LIC S/L 491
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