View on Precious Metals and Indian Stock Market 21st October 2013

PRECIOUS METALS:
Precious metals entered in bullish tone since 17th October 2013. Gold made a high of 1,327 & closed @ 1,326 while Silver made a high of 22.20 & closed @ 21.88.
Between Monday and Tuesday, precious metals could have a decline.
On 21st, Mercury shall be retrograding which would be bullish for bullion.
However, heavy ups and downs shall be seen.
On 23rd October, Sun shall enter under “Swati” nakshatra. This shall be positive for bullion.
This shall continue to be positive with volatility till the end of month.
Gold could come up to 1,380 by this month-end while Silver could cross 23.80.
Between 21st and 22nd October 2013, there could be a decline. If 1,305 is broken for Gold then 1,280 could be reached. Its advisable to make long position in bullion on dips.
As per our expectation, precious metals shall be range bound on 21st October 2013.
Somewhat positive trend could be observed.
On 22nd October 2013, a decline could be seen in bullion.
You can buy precious metals at lower levels.
On 23rd October 2013, recovery shall be seen in bullion with volatility.
On 24th October 2013, market shall be volatile to bullish. This shall continue on Friday.
Today’s Trading Range:
GOLD:1,309-1,324

SILVER:21.60-22.10

View on Indian Stock Market

Today, Indian stock market shall be volatile to positive.

From 13.30 HRS (IST), a positive trend could be observed. This shall continue till closing.

BANK NIFTY shall outperform.

Today’s Trading Range:

NIFTY(FUT):6,150-6,250

BANK NIFTY: 10,600-10,850

BUY ON DIPS:

L&T

TATA STEEL

GODREJ

HAVELLS

YES BANK

HERO HONDA

TATA MOTORS

ICICI BANK