Global Stock Indices:
On Monday itself, we had warned that a sharp fall was due in stock market till Friday.
Yesterday as well, we warned that stock market shall decline.
The fall has come and it shall continue in global stock indices.
This pressure shall continue till tomorrow.
In closing hours (tomorrow), stock indices could take support and hence recover a bit.
You can book 50% profit in S&P500 around 1,540.
The rest 50% must be hold for target 1,505-1,490.
Precious & Industrial Metals:
As said, bullion had a bounce back and again sharp fall in US hours last day.
The same happened. Bullion first had a bounce back and then a sharp fall.
This weakness shall continue till 16.30 HRS (IST) -17.00 HRS (IST).
You can expect the market to ‘U’ turn after 16.30-17.00 HRS (IST).
It should take support and move in positive direction.
Astrology indicates that today’s closing can be bullish.
This upward move can continue with volatility for tomorrow as well.
From 14th April 2013, a one way “bullish” tone is seen for Bullion till 30th April 2013.
According to astrology, it could be possible that by April-end, Gold can cross 1,600 while Silver can cross 30.00.
Positional investors can add long positions with s/l 1,524 & 25.70 or the s/l should be same as the low made prior to 18.00 HRS (IST).
Today, “ECB Meeting” is a major event. As far as astrology is concerned, we do not expect any change in the interest rate. And this should be positive for bullion.
If gold breaks 1,538 then shall take support at 1,525. After ECB Meet, it shall ‘U’ turn and go up to 1,555-1,565. Similarly, Silver if breaks 26.50 it shall take support at 26.20 -26.00 and after ECB, it shall ‘U’ turn and a sharp up move is possible. You can long silver with s/l 25.50 for target 29.00-30.00.
Wait and watch the “ECB Meeting” and that could be an opportunity to enter in bullion.
Base metals & Copper are expected to continue in weakness for the day and tomorrow as well. You can sell base metals and Copper on rise.
Today, Crude Oil shall be volatile to bearish. Tomorrow as well, it should trade in bearish trend. NG shall be volatile to weak.
After ECB Meeting, EUR/USD can go upward.
Dollar shall be strong again against INR for today and tomorrow.
Trading Range (4th April 2013):
- EUR/USD: 1.2780-1.2880-1.2900 (BUY EUR/USD at lower level).
- USD/INR (SPOT):54.20-54.70
Indian Stock Market:
Today, Indian stock market shall be volatile to bearish.
Sharp fall could again be observed in Indian stock market.
Tomorrow as well, the market shall continue in bearish mode.
- Nifty Fut(APRIL):5,680-5,620-5,550
- Bank Nifty Fut (APRIL): 11,590-11,200
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