Is bullion ready for a bounce back

Stock Markets Around the globe

Today, Asian market shall open in positive trend.

However, before closing, profit booking is expected.

Next day, market is expected to be bearish and hence it is advised to make short position. This bearish trend shall continue for Monday as well.

You are advised to book long position in S&P500 JUN FUT @ 1,875-1,880 and there itself make short position.

Next day and Monday are bearish for S&P500.

S&P500 may drop to 1,845-1,803.

PRECIOUS METALS

Today, bullion is expected to be volatile to weak till 17.00 HRS IST. And then, recovery shall be observed.

Next day is very positive for bullion. And Monday is also positive for bullion.

You are advised to long bullion at lower level(s).

TRADING RANGE:

–          GOLD :  1,285-1,305

–          SILVER:19.20-19.70

By tomorrow, GOLD can go up to 1,330 while SILVER can go up to 21.90-22.30.

CURRENCIES

EURO

Buy EUR/USD @ 1.3880-1.3890 for target 1.3940-1.3990.  Hold this long position for next day.

INDIAN RUPEE (USD/INR)

Buy USD/INR @ lower level.

DOLLAR INDEX

Sell Dollar Index on rise.

TRADING RANGE:

– EUR/USD: 1.3880-1.3890-1.3940

-USD/INR(SPOT): 59.90—60.20

-DOLLAR INDEX: 79.45-79.00

US TREASURY BOND

Profit book in last day’s short position for bonds.

And around US opening, long treasury bonds.

Bonds shall remain positive for next day as well.