BULLION
Today, bullion shall be highly volatile owing to Scorpio Moon. Especially after 12.30 HRS IST, good rise shall be observed. However, volatility shall be high.
You are advised to long bullion at lower levels and hold for next week as the period from 21st to 26th March 2014, bullion is highly bullish.
Gold could go up to 1,380 in that time while Silver could go up to 22.00.
TRADING RANGE:
– GOLD:1,320-1,342
-SILVER: 20.20-20.80
INDUSTRIAL METALS : COPPER
Copper and other base metals shall trade in positive trend from today.
In next week, Copper may hit 3.30.
BUY COPPER @ LOWER LEVEL AND HOLD FOR NEXT WEEK
Stock Markets around the Globe
-Global stock markets shall be in highly volatile trend but weak. Recovery shall be observed from closing hour. Negative opening & closing is indicated for UK.
-US market shall trade in weak trend till mid-session. And then recovery shall be observed.
– Due to Scorpio Moon, heavy volatility is indicated for the day. Drop shall be seen from 11.00 HRS IST.
– However on Monday, market shall be positive.
– SELL S&P500 JUN CONTRACT WITH S/L 1,872 FOR TGT 1,845 & BELOW
– And at lower levels, BUY S&P500 today and hold for Monday.
- Ø ENERGY PRODUCTS
CRUDE OIL
Crude Oil shall continue in weakness for the day. Crude Oil may drop to $96/bbl in a day or two.
With a stop loss of $100, hold short position in OIL for target $96.
NATURAL GAS
NG shall trade in mix trend.
If NG trades below 4.42, it shall drop to 4.26
TRADING RANGE:
-OIL:99.50-97.50
-NG:4.42-4.28
US TREASURY BOND
From UK opening, bonds shall move in positive direction.
In next week as well, bonds shall remain positive.
BUY BONDS @ LOWER LEVEL.
CURRENCIES
EURO
BUY EUR/USD at lower level and hold for next week.
EUR/USD shall shoot up to 1.3950.
INDIAN RUPEE (USD/INR)
Short USD/INR at higher level.
DOLLAR INDEX
SELL DOLLAR INDEX AT HIGHER LEVEL.
In next week, Dollar Index shall drop to 79.90.
TRADING RANGE:
- EUR/USD: 1.3740-1.3840
- USD/INR: 61.45-61.00
- DOLLAR INDEX: 80.40-80.00
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