Bullion negative till US opening and then bullish

(Sent on 3rd April 2014 @07.00 HRS IST)

PRECIOUS METALS

Heavy volatility shall be seen in bullion for the day.

Big moves shall be seen in both direction.

Bullion may experience negative trend any time between 13.00 HRS IST to 18.00 HRS IST.

And post US opening, bullion shall trade bullish.

Trading Range:

– GOLD: 1,302-1,280

-SILVER: 20.30-19.80

INDIAN STOCK MARKET

Today, Indian market shall start with positive opening. From 09.45 HRS IST, correction shall start.

Make short position in NIFTY with s/l 6,836 for target 6,700 & below.

TRADING RANGE:

-NIFTY (FUT) : 6,830-6,700

-BANK NIFTY: 12,900-12,600

BUY:-          IDFC

–          RANBAXY

–          LUPIN

–          RELIANCE COMMUNICATION

–          BHARTI AIRTEL

SELL:

–          LIC HOUSING

–          DLF

–          RELIANCE CAPITAL

  Stock Markets Around the globe

Today, global markets shall experience heavy volatility. Big move is possible in both direction(s).

After 09.45 HRS IST, correction shall start in stock market.

Hold short position in S&P500 with stop loss 1,896 for target 1,865 & below.

Trading Range:

– DOW(FUT): 16,525-16,420

– S&P500(FUT):1,886-1,868

-NASDAQ(FUT):3,575-3,510

-FTSE(FUT):6,640-6,580

-CAC(FUT):4,446-4,370

-DAX(FUT):9,680-9,550

-HSI (FUT):22,750-22,200 (hold short position with stop loss 22,840)

-NIFTY(SPOT):6,775-6,700

• Ø ENERGY PRODUCTS

CRUDE OIL

Crude Oil shall experience heavy volatility. It shall trade in a tight range.

NATURAL GAS

Sell NG on rise.

Trading Range:

-CRUDE: 98.80-100.00 (BUY ON DIPS)

-NG: 4.42-4.24

 CURRENCIES

EURO

EUR/USD shall experience both side trend.

INDIAN RUPEE (USD/INR)

Buy USD/INR on dips.

DOLLAR INDEX

Buy DOLLAR INDEX @ LOWER LEVEL.

TRADING RANGE:
– EUR/USD: 1.3660-1.3850 {BUY @ LOWER LEVEL & SELL @ HIGHER LEVEL}

-USD/INR(SPOT): 59.60-60.10

-DOLLAR INDEX: 80.20-80.50 (BUY ON DIPS)