23 December 2014: Has bullion made bottom?

Global Stock Indices

Stock market shall be range bound for next 3 days.

On 29^th, 30^th & 31^st, market can decline.

Due to year-end & x-mas holidays, the volume is really limited and market can turn highly volatile. It is advised to trade with cautions.

For today, UK and US market can witness profit booking.

For tomorrow, Asian market can open negative.

With stop loss of 2,092, short S&p500.

PRECIOUS METALS

We were positive about precious metals till 15.00 HRS IST of Monday and then decline.

After 15.30 HRS IST last day, Gold and Silver witnessed decline. Gold made a low of 1,170 & Silver made a low of 15.50.

A gradual recovery is expected today. This recovery shall continue in a tight range till Friday. I am not very sure of how intense the positive trend shall be.

Hence, please use stop loss (GOLD: 1,170 & SILVER: 15.40) with your long position.

On 27^th, Mars shall enter ‘Ghanishta’ nakshatra. From this point, I am sure that bullion shall be positive.

Its impact would be seen on 26^th or 29^th December 2014.

Around the year end, I see Gold trading above 1,220 & Silver trading above 16.40.

If you make long position today, please use strict stop loss.

CRUDE OIL

Buy Crude oil with stop loss 52.50.

NATURAL GAS

NG is on over-sold position. By year end, it is expected to reach 3.50.

With s/l of 3.10, long NG. 

INDIAN STOCK MARKET

Indian market shall open positive today.

Highly volatile trend is expected post-opening.

After 13.30 HRS IST, profit booking is expected.

Next day, it can open in weak mode.

Expiry is due next day & hence in second half, market is to move up.

On 29^th & 30^th, correction is expected.

TRADING RANGE:

# NIFTY FUT:8,380-8,280

#  BANK NIFTY: 18,900-18,600

INTRA-DAY BUY :

-SKS MICRO

-IDFC

-LIC

-ALLAHBAD BANK

-BHEL

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