Global Stock Indices:
Global stock indices are expected to be highly volatile for the day. Profit booking may come on higher level. Venus shall change house on Sunday (17th March 2013). Venus shall enter in Pisces. Venus will exchange house with Jupiter. This shall be a turning point for stock market across the globe.
Market shall enter in bearish trend till 15th April 2013.
US market has continued to be bullish through-out this week. After the change of position of Venus, we expect a U turn from Monday.
On Monday, if US market closes bearish then a sharp fall is possible. Stock market shall open in weakness on Monday. The major hurdle of S&P is 1,573. Our view is that S&P500 shouldn’t cross 1,573. It can again go down to 1,500 but we must watch the trend of the American market on Monday.
Precious and Industrial Metals
Bullion shall be volatile to positive for the day. Some profit booking can come from late US hours (21.00 HRS IST). Bullion shall be bullish for next week.
Copper shall be highly volatile and trade both sides.
Today, if gold crosses 1,600 then can go to 1,617. Keep a watch.
In late night, you can make long position in Bullion for next week.
Currencies:
Yesterday, we mentioned to watch 1.2922 in EUR/USD. Euro had a U turn from 1.2922.
At higher levels around 1.3050-1.3060, you can short EUR/USD with stop loss 1.3130 target 1.2925.
Around 54.20-54.30, buy USD against INR for next week.
By March end, we expect USD/INR to cross 55.00.
Trading Range (15th March 2013):
- EUR/USD: 1.3050-1.2950
- USD/INR (SPOT): 54.20-54.60
Indian Stock Market:
Today, Indian stock market shall be highly volatile with ups and downs.
Profit booking can come in closing hour.
Next week shall be bearish for Indian stock market.
Trading Range:-
– Nifty Fut: 5,880-5,950
BUY
- JP ASSOC.
- RCOMM
- UNION BANK
- RELIANCE INDUSTRIES
- CHAMBAL FERTILIZER
SELL
- BHARTI
- IDEA
Leave a Reply