VIEW ON PRECIOUS METALS

Today, highly volatile to slightly positive trend is expected till US opening.

From US opening, we expect a decline in bullion till 23.30 HRS(IST). And then it shall recover around US closing hour.

Tomorrow, opening shall be slightly positive.

Today’s Trading Range:

GOLD:1,398-1,362

SILVER: 22.90-22.10

View On Energy Products:

Crude Oil shall experience pressure on higher level. You can short OIL on higher level (94.50-95.00 with stop loss 96.00).

Major support for Oil is 92.00. Buy Oil around 92.50 with stop loss 92.00 for target 94.50.

The above strategy means both side trend shall be observed.

Hold long position in Natural Gas.

Today’s Trading Range:

-CRUDE OIL: 92.50-94.50

-NATURAL GAS: 4.24-4.30+

View on Indian Stock Market:

Volatile to positive trend is expected in Indian stock market. Profit booking is possible after 11.30 HRS (IST). Tomorrow’s opening may be negative.

Indian market has entered a new bull rally. Major support for NIFTY is at 5,900 (which as per our studies, shouldn’t be broken).

From next week, it shall be highly bullish.

For short term, you can use strategy of “BUY ON DIPS”.

Today’s Trading Range:

NIFTY FUT: 6,100-6,020

BANK NIFTY: 13,000-12,720

BUY ON DIPS (SHORT TERM (till 15^th June 2013)):

• HDFC BANK
• HINDALCO
• RELIANCE INDUSTRIES (S/L 820)
• STERLITE INDUSTRIES
• TATA STEEL
• UCO BANK
• YES BANK
• RCOMM
• IDEA
• ICICI BANK

SELL ON RISE:

• POWER GRID
• DLF

(Updated at : 28/05/2013 7:34:53 AM (IST))