Investment Strategy in Stocks, Bullion and currencies for 7th November 2013

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PRECIOUS METALS:

  • Today, precious metals shall have bearish opening. Volatile to negative trend shall be observed till 10.30 HRS (IST). From 10.30 HRS (IST) to late hours, positive trend is expected in bullion (especially good rise is indicated from 15.00 HRS IST to 18.30 HRS IST).

TODAY’S TRADING RANGE:

  • GOLD:1,312-1,330 AND ABOVE
  • SILVER:21.60-22.20 AND ABOVE

    CRUDE OIL

    Crude entered in positive trend (which shall continue till 15thNovember 2013). Crude can cross $99/bbl. With a stop loss of 92.00, positional traders can hold long positions in crude oil. 

    Currencies:

    Till 10.30 hrs ist, EUR/USD shall be weak and then turn strong. Its recommended to BUY EUR/USD on lower level(s).

    In coming days, USD/INR can cross 64.00. Hold long position in USD/INR.

    View on Indian Stock Market

    Today, Indian stock market shall have bearish opening. Positive trend shall be seen from 10.30 HRS (IST). Good rise is indicated from 12.45 HRS (IST).

    Today’s Trading Range:

        • NIFTY (FUT):6,220-6,320
        • BANK NIFTY: 11,300-11,600

           

          BUY ON DIPS:

        • DENA BANK
        • CANARA BANK
        • BANK OF INDIA
        • TATA STEEL
        • ESCORT
        • INFOSYS
        • JAIN IRRIGATION

     

     

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