Global Equity Indices

The fall that started last day shall continue for today as well. After mid-session of US, a considerable bearish trend may be observed. This trend may continue with volatility for next week as well. The bottom is anticipated to be made around 17^th June 2016.

In this time frame, S&P500 FUT may drop to 2000-1980.

PRECIOUS METALS

Gold and silver made a high of 1275 and 17.35 in the previous trading session. In medium to long term, bullion is highly bullish. By mid-August 2016, we expect GOLD to cross 1400 while SILVER may cross 21.00.

However, some correction may be observed by next Wednesday – you can hold short position for target 1255-1240 in GOLD and 16.90-16.60 in SILVER.

We asked you to long GOLD when it was trading at 1205 – yesterday, we asked you to book profit at 1270. Similarly, long position in Silver from 15.92 happened to be a huge profit last day. Hopefully, you must have enjoyed the call!

CRUDE OIL

Crude oil has entered bearish mode.

In next week, a fall of 4 to 5 percent is indicated in the price of crude oil – hence, you are advised to hold short position.

NG

Hold short position in NG with stop loss 2.62 for target 2.45.

EURO

EUR/USD may experience correction until next week.

USD/INR

Buy USD/INR at lower level. By 20^th June, it will touch 68.

DOLLAR INDEX

Dollar index shall move in a positive trend.

US Treasury Bonds

Buy treasury bonds on dips as the trend is positive for next week as well.

INDIAN STOCK MARKET

Indian market shall be volatile for the first half. In second half, correction may be observed.

By next week, Nifty may breach 8000 while Bank Nifty may breach 17000.

Positional traders are advised to hold short position in Indian indexes.

TRADING RANGE:

• NIFTY JUN FUT: 8250-8150
• BANK NIFTY FUT: 17900-17500

SELL ON RISE:

• SBI
• YES BANK
• HINDALCO
• TATA STEEL
• VOLTAS
• LIC S/L 491