Newsletter sent this morning

{Sent on 24th April 2014 @ 07.15 HRS IST}

Stock Markets Around the globe

Last day, S&P500 made a low of 1,867.

It is expected to be volatile for the day.

S&P500 may try to touch 1,890-1,892. We aren’t sure if that would be achieved.

However after US opening or mid-session (US Hours), there shall be a sharp correction in S&P500. In coming days, S&P500 may make a low of 1,805.

Today, Asian market shall be somewhat positive.

Next day could have a gap down opening for Asian market.

The downside move may continue for next week as well.

PLEASE NOTE THAT: WE ARE SURE THAT ANY TIME FROM US OPENING, SHARP CORRECTION SHALL BE SEEN IN STOCK MARKET. AND THIS WILL MAKE S&P500 DROP TO 1,805.

AND SHORT HSI AT HIGHER LEVELS FOR TARGET 23,800

PRECIOUS METALS

Overall, bullion is positive for the day.

Bullion shall be in supportive trend till next Monday’s evening.

Hold GOLD with stop loss 1,275 {closing basis} for target 1,320.

Hold SILVER with stop loss 19.10 {closing basis} for target 20.30.

TRADING RANGE:

-GOLD : 1,278-1,292 AND ABOVE

-SILVER:19.30-19.65

INDUSTRIAL METALS

Copper shall be volatile to positive.

Trading Range:

– COPPER:3.03-3.08

ENERGY PRODUCTS

CRUDE OIL

Crude Oil shall be overall volatile to positive till tomorrow.

Buy Oil with stop loss $101/bbl for target $104.80.

NATURAL GAS

NG is expected to trade in volatile to positive mode.

Trading Range:

-CRUDE: 101.50-103.00

-NG: 4.72-4.82

CURRENCIES

EURO

Buy EUR/USD on dips.

INDIAN RUPEE (USD/INR)

Hold long position in USD/INR with stop loss 60.80 for target 61.80. *Rates are as per spot.

DOLLAR INDEX

Sell Dollar Index on rise.

TRADING RANGE:
– EUR/USD: 1.3780-1.3860

-USD/INR(SPOT): 60.80-61.40

-DOLLAR INDEX: 80.10-79.70

US TREASURY BOND

Bonds shall experience pressure. From US session, bonds shall move in positive direction.

Buy bonds on dips.

INDIAN STOCK MARKET

OWING TO THE ELECTIONS, IT’S A HOLIDAY IN INDIA.