Today, gap down opening is expected in Asian market. Slight recovery shall be observed around closing hours. UK can have negative closing. US market shall again close in negative.

Tomorrow, Asian market is expected to open negative.

In next week, we expect S&P500 to go down to 1,545 and below, HSI to go down to 21,850 and below.

Hence, you can hold short position in S&P500 and Hang Seng Index.

PRECIOUS METALS

Today, bullion shall be volatile to bearish.

Till 15^th May 2013, we expect bearish mode shall continue in bullion with some volatility.

In this period, we expect gold to down to 1,350-1,298 and Silver to go down to 21.00 & below.

View On Energy Products:

Weakness shall continue in Crude Oil.

Till next week, fall shall continue in Oil and in this period crude oil can go down to 84.00$/bbl.

NG shall trade volatile to mix trend.

View on Base Metals:

With volatility, weakness shall continue in base metals till next week.

Currencies:

Sharp fall is possible in Euro after ECB’s rate cut.

By next week, EUR/USD can go down to 1.28000.

USD/INR can go up to 54.50-55.00 by 15^th May 2013.

View on Indian Stock Market:

Today, Indian stock market shall experience some weakness in first half.

In second half, we expect closing to be positive.

Tomorrow, again gap down opening is possible in Indian stock market.

Trading Range:

Nifty Fut: 5,870-5,970

BUY:

-HUL

-UNITED SPIRIT

-ABAN OFFSHORE S/L 305 TGT 322

-HERO MOTOCORP

SELL:

-CHAMBAL FERTILIZER