Global Stock Indices:
Global Equities are undergoing historic bull-run. As per planetary positions, 30th May 2013, it shall be uncertain condition which will make the equities volatile. And from 1st June 2013, a new bull run shall be observed in global stock markets.
By this year’s end, we may see S&P crossing 1,900.
Between 20th-21st May 2013, we expect a minor correction.
22nd – 24th May 2013, again global stock indices shall be bullish.
In this correction, you can buy at lower levels.
Use “strict” stop loss of 1,645 for buying position in S&P around 1,655-1,660 for short term target 1,700.
You can also make long position in Hang Seng Index on dips (that may come today or tomorrow). Weekly range of HSI = 23,000-23,800.
This week, financial, coffee, automobile stocks shall be bullish.
Today’s view: Between Today and tomorrow, a profit booking can be observed. This profit booking shall be seen as opportunity to make long positions in stock markets across the globe.
VIEW ON PRECIOUS METALS
This week as well, precious metals shall continue to be bearish till 23rd May 2013.
And then onwards, a U turn can be observed.
Gold if breaks 1,338 then it should be heading towards 1,271 & below.
Silver if breaks 21.20 then it should be heading towards 20.20-19.50.
View on Base Metals:
This week, base metals are expected to be weak with volatility. Sell base metals on higher level.
View On Energy Products:
This week, Crude Oil and Natural Gas shall be positive with volatility. Buy Crude Oil and NG on dips.
Currencies:
This week as well, EUR/USD shall be weak with volatility.
Sell EUR/USD on rise.
Buy USD/INR for target 55.40+ with stop loss 54.50.
View on Indian Stock Market:
Indian stock market shall observe correction between 20th & 21st May 2013.
Keep your strategy to be “BUY ON DIPS”.
With a stop loss of 6,075 make long positions in NIFTY FUT for target 6,350+.
Buy IFCI, IDFC, YES Bank, RELIANCE CAPITAL, RELIANCE INFRA, TATA MOTORS, LIC HOUSING, PFC, REC, L&T, L&T FINANCE, JP ASSOC., UNITED SPIRITS on dips.
Till Friday, the mentioned stocks shall be positive with volatility.
(Updated at : 20/05/2013 7:29:59 AM (IST))
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